Simplex Debuts Fiat On-Ramp for Blockchain Game Townstar

Fiat on-ramp service Simplex has partnered with crypto exchange platform Bitrue to enable GALA token trading. GALA is the native token of the Gala Games environment.

Blockchain technology continues to see increased utilization in the gaming industry with the novel tech providing a robust base layer for monetizing in-game assets. Developers are also able to leverage decentralized ledger technology (DLT) in maintaining full control of their digital metaverses without recourse to third-party publishers and hosting services.

Simplex and Bitrue Partner for GALA Trading

According to a press release shared with Blockonomi, Simplex is now providing a fiat on-ramp for the purchase and sale of GALA tokens via a collaboration with Bitrue crypto exchange. GALA which is an ERC-20 token can be traded inside Townstar, a blockchain-based game developed Zynga co-founder Eric Schiermeyer.

By providing a fiat gateway for GALA token trading Simplex is broadening the utility for the token. GALA tokens were previously only used as a reward for running a Gala Games Soft Node.

Commenting on the implication of broadening the utility for GALA tokens, Simplex CEO Nimrod Lehavi remarked:

We’re excited to announce our partnership with GALA, who are leading the way in connecting crypto and casual games. Casual games are an innovative application that will open up the ecosystem to many new users. Simplex is thrilled to work alongside GALA and Bitrue to enable billions of people to easily and securely onramp to the community.

By introducing a token economy for GALA “coins,” Simplex and Bitrue might be creating an avenue for expanding the adoption of crypto and blockchain in the gaming space. Such a trend may also be net positive for the blockchain industry as the gaming arena offers another expansion vector for the nascent technology.

Simplex continues to provide fiat on-ramps for numerous cryptocurrencies. As previously reported by Blockonomi, the company removed know-your-customer (KYC)…

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