Xace

What Xace does

Xace is a UK-headquartered payment services provider founded in 2020 that issues regulated business accounts, IBANs, and payment infrastructure to industries systematically underserved by traditional banks — principally iGaming operators, white-label casinos, gambling software suppliers, gaming affiliates, esports organisations, prediction-market platforms, competition and giveaway operators, cryptocurrency businesses, and ecommerce merchants. The company operates as an FCA Authorised Payment Institution (FRN 948213) via Xace Limited in the UK and an MFSA-licensed entity, Xace Malta Ltd, with additional presence in Cyprus (EU strategy) and a Canadian FMSB registration. The technology stack layers multi-currency accounts (20–25+ currencies including EUR, GBP, USD, CAD) on top of a Modulr-provided EMI backbone across both UK and EU (Netherlands) licences, with SEPA, TARGET2, SWIFT, UKFP, Bacs, and CHAPS rails; PSD2 Open Banking connectivity is delivered through Salt Edge's Priora platform, and cards are issued by Modulr under Visa Europe licensing. A REST API (v1.0) at developer.xace.io exposes account, transaction, approval, payee, and CAMT053 statement endpoints, with a sandbox for integration testing.

The business model combines a recurring subscription component (£250 per account per month, with POA joining fees) with volume-based transaction fees (0.2% for gaming accounts, 0.125% for general business accounts) and FX conversion margins across its currency set. Customer acquisition is sales-led, driven by a dedicated relationship-manager model, industry-specific compliance underwriting of gaming licensing structures, and a heavy conference presence at ICE London (stand N5-250) and SiGMA Europe, complemented by a partner/referral program and an API-led bottom-of-funnel developer channel. Xace monetises regulatory optionality — being willing and licensed to bank the gaming vertical — rather than competing on raw price or product differentiation against mainstream neobanks; this positions the company in a defensible niche but ties its growth to the regulatory and commercial trajectory of the iGaming sector itself.

Name

Xace

Legal name

Xace Limited

Website

https://xace.io

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Xace is a UK-regulated payment services provider offering multi-currency business accounts, IBANs, and payment infrastructure to iGaming, gambling, esports, prediction market, and cryptocurrency businesses underserved by traditional banks.

Ownership category

akta.pro rank

Product category

Digital Business Banking and Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Payments Orchestration, Wallets & Alternative Payments Enablement (MPAEAKAH)

akta.pro secondary industries

Cross-Border & FX Payments Platforms (BPAMAFAK), A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)

Keywords

• Business payment accounts
• Multi-currency IBAN
• Gaming banking solutions
• Foreign exchange services
• Payment processing

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Transaction Fees: Percentage-based fees charged on transaction volumes processed through accounts. Gaming accounts charged from 0.2% per transaction, Business accounts from 0.125%. Fee structure depends on volume and number of transactions.
2. Monthly Account Fees: Monthly subscription fee of £250 per account for both Gaming Payment Account and Business Payment Account. Joining fees are listed as POA (Price on Application).
3. Foreign Exchange Services: FX conversion services between 20+ currencies with instant conversion and settlement to almost every country globally.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Xace provides regulated digital business payment accounts with multi-currency IBANs (EUR, GBP, USD, CAD plus 20+ currencies) and instant FX, supported across SEPA, TARGET2, SWIFT, Bacs, UKFP, and CHAPS rails. The offering is tailored to alternative and high-risk industries — primarily iGaming operators, white-label casinos, gambling software suppliers, affiliates, esports, prediction markets, crypto, and e-commerce — that are routinely rejected by traditional banks. Add-on services include virtual debit cards, payment processing, cross-border payouts, PSD2 Open Banking connectivity, and a developer REST API.

Product overview

Xace is a digital payment account provider offering a portfolio of specialized business accounts for alternative and underserved industries, primarily serving the iGaming, gambling, esports, fintech, and cryptocurrency sectors. The core offering consists of Business Payment Accounts providing IBANs, UK sort codes, and multi-currency capabilities across 20+ currencies, accessible through multiple banking rails (SEPA, UKFP, TARGET2, SWIFT, Bacs, CHAPS). The product suite includes specialized accounts for Gaming Payment Accounts, White Label Casino Accounts, Gambling Software Supplier Accounts, Gaming Affiliate Accounts, Competitions & Giveaways Accounts, Esports Payment Accounts, Prediction Market Accounts, Ecommerce Payment Accounts, Crypto Bank Accounts, and Influencer Accounts. Additional services include Foreign Exchange (FX) conversion between 20+ currencies within a single IBAN, Virtual Debit Cards issued via Visa, Cross Border Payments, PSD2 Open Banking integration via Salt Edge, and Card Processing services. A REST API (v1.0) at developer.xace.io enables programmatic access to accounts, transactions, approvals, payees, and CAMT053 statements. Xace operates as a regulated entity under FCA (FRN 948213) in the UK and holds MFSA licensing in Malta, with operations spanning Europe, UK, and Canada.

Differentiator

Problem solved

Functional benefit

Brands

• XacePay: Gaming payment gateway solution for processing payments in the iGaming sector

Products and services

• Business Payment Accounts Regulated multi-currency business payment accounts with company-name IBANs (EUR, GBP, USD, CAD plus 20+ currencies) and UK sort code and account number, reachable via SEPA, TARGET2, SWIFT, Bacs, UKFP, and CHAPS rails. Designed for enterprises in alternative industries underserved by traditional banks, with sub-accounts, real-time payments, accountant reports, web and mobile access, and a dedicated relationship manager.
• Foreign Exchange (FX) Services Instant FX conversion between 20+ currencies within a single IBAN, enabling multi-currency account balances, competitive exchange rates, and settlement to almost every country globally for gaming and alternative-industry businesses.
• Virtual Debit Cards Virtual Visa debit cards issued to business account holders for online purchases, provided under the Visa Europe licence of card issuer partners Modulr FS Limited (UK) and Modulr Finance B.V. (Netherlands).
• Cross Border Payments International payment service enabling outbound and inbound settlements to almost every country globally, leveraging multiple banking rails (SEPA, TARGET2, SWIFT, Bacs, UKFP, CHAPS) and multi-currency balances.
• PSD2 Open Banking PSD2-compliant Open Banking API for Third Party Providers (TPPs) to access account information services (AIS) and initiate payments (PIS) on Xace business accounts, delivered via Salt Edge's Priora platform with both sandbox and production environments.
• Gaming Payment Gateway / Card Processing Payment gateway and card processing service for gaming and gambling merchants, accepting cards, e-wallets (PayPal, Skrill, NETELLER), and Paysafe payment methods to facilitate fund transfer between merchants and customers.
• Xace Developer API REST API (v1.0) exposed at developer.xace.io providing programmatic access to Accounts, Transactions, Approvals, Payees, and Statements (CAMT053 XML), with a sandbox environment for integration testing.

Quantifiable outcome

• 20+ currencies supported including EUR, GBP, USD, CAD
• +1 more outcomes

Named customers1 record

Segments9 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature6 records

Partnerships

Four partnerships are on record, tiered core.

• Modulr FS LimitedcoreTechnology or IntegrationXace Limited is a registered EMD agent of Modulr FS Limited, an Electronic Money Institution authorised and regulated by the FCA (FRN 900573). Modulr FS provides the underlying electronic money issuance and payment services for Xace accounts in the UK. Funds are safeguarded in segregated accounts per Electronic Money Regulations 2011.
• Modulr Finance B.V.coreTechnology or IntegrationXace Limited is a partner of Modulr Finance B.V., registered in the Netherlands and authorised by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870). Modulr Finance B.V. provides electronic money issuance and payment services for Xace accounts in the EU with safeguarding per the Dutch Financial Supervision Act.
• Salt EdgecoreTechnology or IntegrationSalt Edge provides the PSD2 Open Banking API infrastructure for Xace, enabling Third Party Providers to connect for aggregation and payment services. Xace offers both Sandbox and Production API environments via Salt Edge's Priora platform for the Berlin Group Xace specification.
• Visa EuropecoreTechnology or IntegrationCards are issued by Modulr FS Limited or Modulr Finance B.V. pursuant to their respective licences by Visa Europe. Visa and the Visa brand mark are registered trademarks of Visa Europe.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Trustly: Trustly is one of the most established account-to-account payment networks for the European iGaming sector, providing deposits and payouts to gaming operators. It is the closest direct competitor to Xace's gaming payments proposition and serves an overlapping customer base of online casinos and sportsbooks.
• MuchBetter: MuchBetter is a mobile-first payments app purpose-built for iGaming deposits and withdrawals. Like Xace, it focuses exclusively on serving gaming operators and players with regulated, multi-currency payment solutions.
• Praxis Tech (PraxisPay): Praxis Tech provides payment orchestration and cashier technology for online gaming merchants. It overlaps with Xace on gaming-focused payment enablement and shares the same regulated vertical specialisation.
• Paywiser: Paywiser is a payment processor focused on high-risk verticals including iGaming, offering merchant accounts and payment gateway services. It is comparable to Xace in serving the gaming sector with banking and acquiring services that traditional banks decline.
• AstroPay: AstroPay provides digital payment solutions and business accounts tailored to online gaming and cross-border merchants. It is comparable to Xace in combining multi-currency accounts with gaming-vertical specialisation, though with stronger LATAM focus.

Broad incumbents

• Revolut Business: Revolut Business offers multi-currency IBANs, FX, virtual cards, and payment rails to SMEs globally. While broader than Xace, its product set directly overlaps and it represents the incumbent alternative Xace competes against for cross-border business accounts.
• Wise Business: Wise Business provides multi-currency accounts with SWIFT/SEPA rails and FX to international businesses. It competes with Xace on cross-border payment functionality, though it does not specialise in the gaming vertical.
• Airwallex: Airwallex offers multi-currency business accounts, FX, and global payment rails for cross-border businesses. Its product overlap with Xace is significant on the financial-stack side, but it serves a broader customer set without gaming-vertical focus.

Others

• Modulr: Modulr is both Xace's core infrastructure partner (UK and EU EMI) and a potential competitor as a BaaS payments platform. Comparable as the regulated e-money layer that underpins Xace's account offering and as an adjacent platform that could enter gaming directly.

Emerging players

• CoinsPaid: CoinsPaid provides crypto payment processing and fiat on/off-ramps with a strong iGaming client base. Comparable to Xace's crypto-bank-account vertical and overlapping on the gaming customer segment, but with a crypto-native rather than fiat-first stack.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/xaceio

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Xace