Breakout Gaming, Breakout Coin Secure License in Curacao
Breakout Gaming is part of the Breakout Gaming Group, owned and operated by Breakout Playa Limitada, a Costa Rica, has secured a gaming license in Curacao.
The company operates entertainment sites for both gamers and gamblers, including a digital download game store, fantasy sports, eSports, and a full real money gaming platform. It does not permit real money gambling in jurisdictions where restrictions have been imposed, this includes the United States at this time.
They will soon be offering a new crypto-currency, Breakout Coin (BRK).
Gian Perroni, chief gaming officer of Breakout, said: “We’re pleased to have been awarded this new licence; this now allows us to increase the ease of processing for our members, including the addition of these popular cryptocurrencies.”
Breakout Chain is a global payment system with minute transaction fees. It allows users to send money anywhere in the world instantly and directly to a recipient, without any middlemen. Carried on a single distributed ledger, known as a blockchain, exist several currencies with different uses.
At the heart of the Breakout Chain “Multicurrency” system is the currency Breakout Coin (ticker: BRK). It is the Breakout Chain currency designated for payments, issuances of colored coins, pegged currencies, and used to fuel our smart contract system.
Breakout Coin explains how it will incorporate its platform with the Breakout Gaming site.
To promote adoption of Breakout Coin, we will loan 7,000,000 BRK to Breakout Gaming in 35 monthly disbursements of 200,000 BRK each, at 0.5% yearly interest compounded quarterly.
Repayment will be calculated in BRK so that all BRK principal must be repaid with interest. Part of the loan agreement is that these coins must be used for promotional giveaways only and can not be sold by Breakout Gaming. To the extent allowed by law, additional requirements are that Breakout Gaming must allow buy-ins using BRK, must allow users to cash out in BRK, must denominate ingame chips in BRK, and must fully cover player liability by holdings in BRK.
- Aaron Goldstein, Gambling911.com
