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Online Game Gets Real-World Banking License

While some online games have problems with real-money transactions, Swedish MMO Entropia Universe has no such issues. Indeed, it’s so responsible that publishers MindArk have been granted a proper banking license.

The Swedish Financial Supervisory Authority granted the license last week. What does that mean? It means the publisher ā€œgains the protection of the Swedish government’s deposit insuranceā€, which covers each account to the tune of $60,000.

It also means MindArk can offer banking services to customers. That means interest-bearing accounts, the direct deposit of paychecks, bill payment and even money lending. It even means that the game’s currency, Project Entropia Dollars, has a real-world value on the currency exchange, with a fixed rate ensuring that 10 PED will get you 1 US Dollar.

Online game gets real-world banking license [AP]

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