Financial Service Provider

Key Data

  • Trading Name: Xace
  • Legal Entity: Xace Ltd
  • Activities: Providing financial services tailored for the iGaming industry, including digital banking accounts, virtual debit cards, and specialized payment solutions.
  • Location: Services offered in the European Union and the United Kingdom.
  • Regulations: Licensed by the Malta Financial Services Authority (MFSA) and the UK’s Financial Conduct Authority (FCA).
  • Key People: David Hodkinson, CEO; Roderick Psaila, Chairman of Xace Europe.

Xace positions itself as a pioneering financial service provider tailored to meet the demands of the iGaming industry, offering a robust platform that streamlines financial transactions for gaming businesses.

The company has successfully secured licenses from the Malta Financial Services Authority (MFSA) and the UK’s Financial Conduct Authority (FCA), underscoring its commitment to regulatory compliance and secure financial operations within the European Union and the UK​ (European Gaming)​​ (Fintech Finance)​​ (Hallo Compliance)​.

Financial Services and Offerings

Key features of Xace include the provision of digital banking accounts, virtual debit cards, and dedicated IBANs for Euro payments via SEPA, as well as Faster Payments for GBP transactions. These services are designed to cater to casinos, bookmakers, gaming operators, and even businesses licensed out of Curacao, addressing the unique financial needs of the gaming and gambling sectors which often face challenges with traditional banking services​.

Xace’s digital accounts support multicurrency transactions, including EUR, USD, GBP, CAD, and more, with the facility for instant currency conversions and global settlements. The platform offers multiple banking rails (such as UKFP, SWIFT, BACS, SEPA, CHAPS) and prioritizes top-tier security alongside UK and EU-based support to ensure a seamless and secure banking experience​ (Xace)​.

Regulatory Compliance and Licensing

Xace has been successful in obtaining licenses from two major regulatory bodies: the Malta Financial Services Authority (MFSA) and the UK’s Financial Conduct Authority (FCA). These licenses indicate strict adherence to regulatory requirements and standards in the financial and gaming industries​.

  • Xace Limited is an EMD Agent of Modulr FS Limited with FRN 902828.
  • Xace Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services.

Security Measures

Xace prioritizes top-tier security for its financial transactions and client data, backed by UK and EU-based support. This emphasis on security is crucial for compliance in the financial services sector, ensuring the protection of customer funds and information​ (Xace)​.

Market Focus and Industries Served

With a focus on the iGaming industry, Xace addresses the financial services gap for gaming operators, casinos, bookmakers, and related businesses. The company’s ability to serve markets that often face challenges with traditional banking services underscores its role as a compliant and specialized service provider​.

Online Reputation and Customer Feedback

While direct customer reviews were not detailed in the sources, the regulatory approvals and specialized services offered by Xace likely contribute to a positive online reputation. The absence of negative compliance or regulatory news further supports this assessment.

Leadership and Management

The leadership by

  • CEO David Hodkinson
  • Chairman Roderick Psaila

especially in achieving significant regulatory milestones, speaks to competent and compliant management practices. Leadership plays a pivotal role in guiding the company’s compliance and strategic direction​.

Compliance Rating: Green

Considering these critical criteria, Xace earns a Green compliance rating. This rating reflects the company’s commitment to regulatory compliance, specialized financial services for the iGaming industry, robust security measures, and positive market positioning. The Green rating indicates that Xace operates with high levels of legal and regulatory integrity, making it a reliable partner for its clients and stakeholders within the financial and gaming sectors.

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