SiGMA News sat down with Defexa CBDO Olga Lutz to discuss payment solutions for the LatAm market.

Can you give us a brief introduction about Defexa?

Defexa provides various payment solutions in B2B and B2C areas.  Our brand belongs to a Canada-registered company with an MSB license. Defexa has an international team working from different parts of the world – from Canada and the UK to EU and Latin America.

Please, tell us more about Defexa’s  products and services.

Defexa B2B platform allows merchants to accept payments , transfer, and exchange crypto and fiat currencies in a single ecosystem. Our fiat payment gateway includes: card processing, local payment methods, recurring payments, omnichannel payouts and payment links. The crypto payment gateway has such features as increased acceptance, enhanced security, faster transactions, global accessibility, lower fees, increased customer privacy.

Defexa Wallet has been created as a B2C product. The wallet provides a distinctive blend of safety, convenience, performance, and a comprehensive toolkit for storing, transferring, and managing crypto assets all within just one App. Defexa is a real non-custodial wallet, we care about privacy.  The wallet has a user-friendly interface, easy navigation to all wallet services, live customers support 24/7, knowledge base and subscriptions. Defexa Wallet provides various features such as swapping, staking, fiat payments, local payments and DEFI integrations.

Our third product is Defexa Exchange — decentralized exchange that combines the advantages of a centralized exchange with the security of a DEX.

Engaging both our in-house application security team and conducting regular security audits by our partners HEXENS play a critical role in ensuring the security and reliability of our crypto payment gateway. Our own application security team provides continuous expertise within the organization, allowing for swift responses to vulnerabilities and security issues, as well as active integration of secure development practices at every stage of the product creation process. Collaboration with HEXENS complements our efforts by providing independent expert assessments of our product’s security through regular audits. This comprehensive approach ensures the highest level of protection and user trust for our crypto payment gateway.

Who are your customers?

Regarding B2B we have a wide portfolio of clients from different industries such as gambling and betting, e-sports, i-gaming, ecommerce, tourism, dating and freelance.

Which is your competitive advantage over other players on the market?

Actually, Defexa provides payment solutions to grow your business globally with borderless, instant, and low-cost fiat and crypto transactions. For our global expansion we have not only a Canadian company with MSB license, but also UK EMI, licensed EU companies, and several companies in Hong Kong.

Furthermore, we have acquired a local company in Brazil which is a licensed Payment Institution (PI). This way we are going to provide direct access to PIX payments with a very low cost and the highest conversion rate on the market. Our advantages are also connected with new regulations for betting in Brazil. For companies that wish to operate in the Brazilian market, it is essential to work with a Payment Institution (PI) authorized by the Central Bank of Brazil as a payment partner. Only this kind of payment provider is ready for future changes in legislation and can offer the merchant technological, financial and regulatory guarantees and security. Our company is prepared in this case according to the new law and provides the security of our merchants. Therefore, we are safe and trustworthy.

Regarding other countries in LatAm, we have also registered a local legal entity in Mexico to provide our clients local payment channels as VISA/MC, SPEI etc without intermediaries and limitations.

Due to the presence of payment and crypto licenses worldwide, Defexa is building a network for merchants without borders and limits. In this way it becomes possible for our clients to enter new markets too. Defexa serves as a gateway facilitating comprehensive connections between fiat and fiat currency, fiat and cryptocurrencies, as well as traditional finance and crypto sectors, thereby contributing to the profound integration of the global economy.

What are your plans for the year 2024?

Well, Defexa has recognized the importance of competing on an international strategy and thoughtfully chose a different set of approaches from our competitors. That’s why we decided to create a complete payment system with WEB3 banking services, which will offer our clients a full solution with IBAN accounts, card acquiring, fiat and crypto payment processing.

 It is necessary to mention that our UK company is an authorized Electronic Money Institution (EMI) and a principal member of Mastercard, also in the process of obtaining SWIFT membership. Therefore, we are going to provide card issuing services and SWIFT accounts to our clients.

Defexa has also been studying the requirements of local legislation in different countries and regions according to the specific situation, and we are going to continue actively applying for licenses and landing business.

In this way Defexa is adding new payment methods and implementing innovative solutions for various businesses around the world.

Upcoming event: BIS SiGMA Americas 2024, find all the details here.

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Macau welcomed approximately 2.6 million visitors last month, representing about 76 percent of the visitor numbers from the same month in 2019. Despite a monthly decline of 4.4 percent, there was a significant yearly increase of 14.4 percent, highlighting a recovery trend in tourism.  

Based on the from the Statistics and Census Service, Macau faces challenges in extending visitor stays, with same-day visits reaching 1.35 million, a 23 percent increase from the previous year. In contrast, overnight visitors totalled 1.25 million, marking a modest yearly rise of 6.3 percent. The higher rate of same-day visits indicates a need for strategies to encourage longer stays. 

Mainland China remains the largest source of visitors, contributing 1.73 million arrivals in April, a 25.3 percent increase from the previous year. However, the number of visitors traveling under the Individual Visit Scheme (IVS) saw a slight yearly decline of 3 percent, totalling 793,351. 

Hong Kong visitor numbers decreased by 22 percent year-on-year, down to 581,646. In contrast, Taiwan saw a substantial increase in visitors, up 120.6 percent to 73,460. Compared to 2019, visitation from mainland China, Hong Kong, and Taiwan reached 74.2 percent, 83.5 percent, and 80 percent, respectively, indicating varying degrees of recovery across these regions. 

's efforts to boost international tourism are yielding positive results, with international visitor numbers rising by 92 percent year-on-year to 208,297, or about 89 percent of April 2019 levels. South Korea contributed nearly 38,000 visitors, approximately 61 percent of pre-pandemic levels, while the Philippines accounted for 35,800 visitors, about 87 percent of the 2019 figures. 

From January to April 2024, Macau recorded a total of 11.47 million visitors, achieving about 83 percent of the visitor numbers seen in the same period of 2019. This data reflects a strong recovery trajectory, although it also underscores the need for continuous efforts to fully restore tourism to pre-pandemic levels.  

Macau's visitor statistics for April 2024 indicate a significant recovery in tourism, driven by increases in both same-day and overnight visits, particularly from mainland China and Taiwan. The substantial growth in international visitors highlights the success of 's efforts to attract tourists from diverse regions. However, the disparity between same-day and overnight visitors suggests that further initiatives are needed to encourage longer stays and enhance overall tourism revenue. 

The latest  sportsbook report for the first quarter of 2024 reveals a significant shift towards real-time betting among sports bettors. This trend, which boosts engagement and offers higher margins and faster capital turnover for operators, underscores the profitability of live betting in the sports betting industry. 

According to the report, the transition from desktop to mobile betting continues to accelerate, with mobile devices now accounting for 90 percent of Gross Gaming Revenue (GGR), up from 86 percent a year ago. This growth highlights the crucial role of mobile-friendly betting solutions in the market. Operators focusing on mobile integration and user experience are well-positioned to capture a larger market share, reflecting the changing dynamics in consumer behaviour. 

The report also said that traditional sports remain popular among bettors, with some shifts in preference. Football continues to lead in revenue, while tennis has moved ahead of basketball to claim the second spot. The Super Bowl's influence is evident, as American football has entered the top five, showcasing the impact of major events on betting patterns. Ice hockey maintains its strong appeal, indicating consistent interest from the betting community. 

SOFTSWISS Sportsbook has shown remarkable growth in Q1 2024. Trading volume increased by 246 percent compared to Q1 2023, and revenue surged by 251 percent year-over-year. The platform also recorded consistent month-on-month growth of 136 percent in Q4 2023, highlighting its rising popularity and efficiency. 

Alexander Kamenetskyi, Director of SOFTSWISS Sportsbook, remarked, “The trends we observe in the first quarter of 2024 emphasise the adaptability and growth of our platform while highlighting the critical dynamics of player preferences and technological advancements.”  

The Q1 2024 report from SOFTSWISS Sportsbook underscores significant trends in the , particularly the growing dominance of live and mobile betting. As the platform continues to expand and adapt to changing market demands, its focus on enhancing user experience and providing innovative tools for operators positions it for sustained success in the dynamic sports betting landscape. 

In a recent gathering of industry experts, the closing panel of "Market Expert Insights" discussed cross-border advertising bans in the gambling industry. The panel featured Robert Zammit, Partner at WH Partners; Quirino Mancini, President of the International Masters of Gaming Law (IMGL); Joerg Hofmann, Senior Partner at Melchers Law; and Cosmina Simion, Managing Partner at Simion & Partners.

Robert Zammit addressed the "headache" that marketing teams face when dealing with the diverse legal requirements of different jurisdictions. Quirino Mancini, President of IMGL, lambasted the country's “draconian” advertising ban on gambling operators as "pure legal nonsense." He criticised the Cinque Stelle (Five Star) Movement's hasty implementation of the ban, which was enforced by AGCOM, a telecoms watchdog with no prior experience in gambling regulation. "It was something that came out of the blue," Mancini said, emphasising the lack of research and stakeholder consultation.

Joerg Hofmann, Senior Partner at Melchers Law, pointed out the discrepancies between online and land-based gaming in the wake of these advertising restrictions and also highlighted the hypocrisy in the of these regulations, where operators regularly find loopholes to indirectly promote their brands. Cosmina Simion, Managing Partner at Simion & Partners, shared insights from Romania, where political elections and public opinion have led to increased taxes and restrictions on the gambling industry. "It's counterproductive to attack an industry which you are taxing more by putting more bans when you want their taxes at the end of the day," Simion argued, pointing out the broader impact on various industries, not just gambling.

The panellists agreed that the industry itself bore some responsibility for the current state of affairs. "The industry was the one that just got busy making money... and all of a sudden we realized that this was a bit too much," Mancini admitted. He called for increased dialogue between the industry and regulators to overcome mutual distrust and find balanced regulatory solutions.

A "lose-lose" situation

As the discussion concluded, the panelists underscored the need for evidence-based regulations and the importance of community messaging in advertising. "You can talk about the white market, the compliant market, the responsible market, as opposed to doing nothing," Simion urged, in efforts to avoid blanket advertising bans which are ultimately a “lose-lose” situation.

The panel highlighted the complex and often contradictory nature of cross-border gambling advertising regulations. It called for a more harmonized approach that balances the interests of operators, regulators, and the public while promoting responsible gambling practices. As the industry continues to navigate this challenging landscape, the insights from this panel serve as a beacon for future regulatory discussions.

The event was hosted by WHPartners and Payhound, with SBC as the strategic partner and sponsored by Sumsub.

Upcoming SiGMA event:  happening in Manila from the 2 to 5 June.Shirley Pulis Xerxen20 hours ago

Future of crypto in sports betting

The future of crypto sports betting is looking bright with the increasing adoption of cryptocurrency in online wagering. The advantages of using cryptocurrency for sports wagers are being recognized by more and more bettors, leading to a surge in the popularity of

Blockchain capabilities promise a revolutionized user experience, with smart contracts automating payouts while eliminating intermediaries, thus further reducing transaction fees. This, coupled with the rise of esports betting opportunities, is expected to cater to a new audience that is projected to grow exponentially over time.

Crypto-enabled platforms in sports betting

There are several success stories related to crypto sports betting that highlight the impact of cryptocurrency adoption in this industry. Crypto-enabled platforms are certainly gaining traction in sports betting. One such example is the Web3 Betting Platform, which has led the revolution in the adoption of cryptocurrencies in sports betting. It offers a seamless, decentralized betting experience, replacing the traditional systems of sportsbooks. The platform has experienced a staggering 30 percent year-over-year growth in 2024.

Another platform, CHIPS.GG, has successfully incorporated real stories from their community to explore the dynamic world where cryptocurrency meets sports betting. They offer unique betting options and bonuses, making them increasingly attractive to bettors.

In addition, major betting platforms around the world, such as BetOnline, Bovada, and MyBookie, have started accepting like Bitcoin. This significant shift towards cryptocurrency is a testament to its growing influence in the sports betting industry.

These platforms offer a comprehensive online betting solution, with a diverse range of betting options and superior user experiences. They are also leveraging the benefits of blockchain technology, such as data permanency and transparency throughout the entire betting process.