Cross-chain DeFi solution Royale Finance has raised $1.45 million in a funding round. Contributors include Alphabit Fund, AU21 Capital, Fomocraft Ventures, Kyros Ventures, and Vendetta Capital.
Royale Finance uses liquidity pools to provide funding for iGaming startups using provably fair algorithms which randomize number generation. This ensures that players cannot be cheated and are a verifiable source of truth, supporting innovation and transparency in the sector. As a double layer of security, these random number generators (RNG) are also certified by an accredited testing lab for quality assurance. Any iGaming startup must be licensed and have its provably fair RNG certified before Royale provides the liquidity. The Royale Finance ecosystem is powered by ROYA, a valueless governance token used as a coordinating mechanism between DeFi liquidity providers within the Royale Finance stablecoin collateral pool, which disperses loans to iGaming startups.
The latest funding will be used to merge DeFi with iGaming, a multi-billion dollar market that includes online casinos, sports betting, poker, prediction markets, lotteries, and more. Following the completion of their Version 1 Web 3.0 app, Royale Finance will build a suite of provably fair games available to online casino operators. The project also aims to eventually transition to a complete Decentralized Autonomous Organization (DAO) as the technology develops.
“Centralized finance has stifled innovation in the iGaming sector. There is a lack of accountability and transparency, with too much control in the hands of few,” said Giorgio Andrews, CEO of Royale Finance. “Royale takes a hybrid approach that combines blockchain technology and DeFi to bring both fairness and accessibility to the sector, opening the door to the next wave of innovators. By doing this, not only will iGaming startups earn more, but every online casino operator will soon be able to attract provably fair games supported by our network and token holders.”
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