Zenex recently launched a new token in the iGaming sector, which it says will weave ‘real-time payouts and cutting-edge compliance technology into one flexible system’.
The company’s Zenex 2.0 strategy is a massive leap forward that addresses long-term problems such as payment compliance, user engagement and operational costs.
The Key Features of Zenex 2.0
One of the most captivating aspects of Zenex 2.0 is its OnRamp solution, which addresses the risks of miscoded transactions.
These can result in fines ranging from $50,000 to $450,000 per violation, making it a serious problem for iGaming operators.
The Zenex 2.0 OnRamp is an alternative that reclassifies deposits as token acquisitions rather than gambling payments, which removes the miscoding risk.
The new product also allows for a new approach to rolling reserves. Gambling operators are generally required to maintain high rolling reserves, resulting in considerable initial deposits.
Operators can now hold these reserves in ZNX tokens, with merchants potentially enjoying exclusive discounts. They will also benefit from lower transaction fees, reduced the costs of risk management tools and custom software development.
Zenex 2.0 could be a game-changer in emerging iGaming jurisdictions such as the Middle East. Some countries in the region are eager to jump on the bandwagon as they strive to diversify their economies.
These include the United Arab Emirates, which is leading the charge to embrace iGaming after establishing a formal regulatory organisation to oversee the sector.
All of the casino operators in the UAE are set to be incentivised to embed Zenex 2.0 into their financial systems. The best online casino in Dubai will be the one which is an early Zenex 2.0 adopter.
A key aspect of this strategy is token-burning, which involves the removal of 1-2 percent of tokens during transactions, helping to keep ZNX valuable over time and rewarding those who have held it for a long period while encouraging a stable ecosystem.
The firm is also hatching plans to develop a ZNX Jackpot Lottery, allowing token holders to battle in weekly draws. This feature will encourage participation and loyalty within the Zenex space, making it more than a payment solution.
Zenex 2.0 is poised to incorporate iGaming NFTs, allowing token holders to co-own casinos, betting shops and other gaming venues. The NFTs entitle holders to a cut of the profits generated.
Another significant advancement in Zenex 2.0 is the payment card for VIP users. These cards will streamline financial transactions while holding other enticing offers for high-rollers and experienced players.
Zenex payment cards support cryptocurrencies and fiat currencies in a single account, removing the need for multiple wallets and exchange apps and making it easier to manage assets.
The cards are global and have no transaction limits. Cardholders can make deposits and withdrawals in over 150 countries such as Morocco, Algeria, Tunisia and Egypt.
Cards also have a dedicated international bank account number (IBAN) that provides a transparent and secure banking experience.
Potential Impact on Online Casinos in the UAE
The impact of Zenex 2.0 on the gaming industry in the UAE could be monumental.
Online searches for casinos in Dubai and online casinos in the UAE have been on the rise, showing the growing interest in iGaming in the UAE.
Zenex 2.0 can deliver compliant and efficient solutions for operators looking to spread their wings into the UAE market. The OnRamp solution aligns with new and existing regulations while reducing legal business risks.
Financial incentives such as lower transaction fees and reduced rolling reserves will encourage more UAE-based gaming operators to adopt Zenex 2.0.
Zenex 2.0 will improve the gaming experience for Arab players by providing them with faster and more secure payment options.
Multi-currency payment cards simplify cross-border transactions and allow players to access international gaming platforms without restrictions.
Features such as the ZNX Jackpot Lottery and iGaming NFTs will make the Zenex ecosystem more engaging, attracting casual players and high-rollers alike.
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