is built for , world and mobile app developers, handling processing, in-game transactions, as well as payouts to creators by converting in-world to fiat currency including .
The unit was built from the ground up by to power and its creator-based economy but is now being spun out as it looks to take cash in on the expected goldrush.
The firm, which has money transmitter licenses in the US, already works with several and , online games, and marketplaces, including Second Life, and .
In addition to the investment, is working with JP Morgan Payments to enhance its current capabilities throughout its processing platform including providing increased payment and payout methods, and expanding pay-out currencies and support services.
Drew Soinski, MD, JP Morgan Payments, said: "We believe that contextualized commerce, such as virtual economies within games and virtual worlds, is an area perfectly positioned for innovative payments solutions to play a critical role in the coming years.”
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