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MMO service granted banking license

Fri 20 Mar 2009 2:48pm GMT / 10:48am EDT / 7:48am PDT

MindArk to act as central bank to its virtual worlds platform Entropia Universe

MMO operator MindArk has been granted a banking license for its virtual world Entropia Universe, by the Swedish Financial Supervisory Authority.

MindArk says the move will allow it to act as a central bank for all variations of Entropia Universe and integrate the in-game economies with the real world.

"This is an exciting and important development for the future of all virtual worlds being built using the Entropia Platform," commented MindArk CEO, Jan Welter Timkrans.

"Together with our partner planet owner companies we will be in a position to offer real bank services to the inhabitants of our virtual universe."

Entropia Universe acts as a platform from which partners can launch virtual worlds within, with the focus being on microtransactions and virtual currency monetisation.

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