Veltyco takes 51% of crypto wallet provider

Online marketing company Veltyco Group said it was buying a 51% stake in Varkasso, which provides crypto wallet solutions known as 8Crypt through a cash and shares combination worth €0.3m.

Veltyco said it planned to incorporate 8Crypt's crypto wallet across each of the platforms of Veltyco's various partners, including Veltyco's own site Bet90.com, allowing customers access to each platform from one wallet without having to make separate deposits on each of the individual platforms.

8Crypt allows users to connect their wallet directly to both traditional and crypto currencies, providing and accepting payments from debit and credit cards and bank transfers for traditional currencies and well-known blockchain platforms such as Bitcoin, Ethereum and LiteCoin.

Veltyco said the deal would help its ability to cross-sell the different platforms to its customer base.

Veltyco will pay €0.2m in cash and issue 100,000 new shares.