IBOX BANK Ukrainian transactional bank became the first bank in the history of Ukraine to receive a license from the Regulatory Commission on Gambling and Lotteries to operate in the field of gambling business.
The Regulatory Commission on Gambling and Lotteries has issued a license to IBOX BANK allowing the bank to perform activities and provide services in the field of gambling. Decision no. 45 of January 27, 2022, was published on the website of the Regulatory Commission on Gambling and Lotteries.
“We are proud with the fact that IBOX BANK became the first bank in the history of Ukraine to receive a license from the Regulatory Commission on Gambling and Lotteries to operate in the gambling business,First of all, our bank has been successfully processing payments for casinos that have received a license by the Regulatory Commission on Gambling and Lotteries. After getting its own license from the Regulatory Commission on Gambling and Lotteries, IBOX BANK intends to take and maintain a leading position in the field of gambling services by offering our customers the first full range of services required for successful operation in this sector. We also plan to set the highest level of quality for the services provided,“ commented Peter Melnik, Chairman of the Management Board of IBOX BANK.
According to him, shareholders of IBOX BANK decided to use the profits received in 2020 and 2021 to increase the authorized capital of the bank from UAH 479.041 million to UAH 760.402 million by increasing the nominal value of the shares.
As we announced in September, IBOX BANK launched its own acquiring service for casinos holding a license issued by the Regulatory Commission on Gambling and Lotteries in Ukraine. The bank is officially allowed to accept and process payments for licensed casinos in Ukraine by using a special MCC 7995 “Gambling transactions.”
It is also worth noting that already by the end of 2021, the income of IBOX BANK increased fivefold, while the total amount assets of the bank increased by 90%, thus reaching UAH 3.8 billion.
Last year, IBOX BANK continued to expand its branch network and released new card products. In partnership with Visa, IBOX BANK launched contactless payments for Apple Pay, Google Pay, and Garmin Pay.
In December 2021, IBOX BANK launched a mobile application for smartphones on Android and iOS.
One of the shareholders of IBOX BANK is Alona Shevtsova. She is a well-known fintech entrepreneur in Ukraine and the owner of the LEO International Payment System.