Imvu game9/1/2023 ![]() ![]() As a result, VCOIN became the world’s first in-game, transferable digital currency, following receipt of a No-Action Letter from the SEC in November 2020. Securities and Exchange Commission (SEC), thanks to a year long review process and strict adherence to Anti-Money-Laundering and Know-Your-Customer (AML and KYC) policies. The team has, in fact, already received approval from the U.S. Thanks to an established partnership with digital wallet provider, Uphold, IMVU’s VCOIN can be converted into a variety of national fiat currencies, such as USD and EUR. Now, its creators have been given the green light to enable users to turn their in-game rewards, known as VCOIN, into real-world cash. ![]() It sports its own in-game economy and has users in over 140 countries. Virtual Social Platform IMVU has been around for years. Robin O’Connell, Chief Revenue Officer at Uphold Here he shares his thoughts on the IMVU and Uphold partnership, and how it could be a game-changer for virtual world currencies. Robin is a seasoned business development executive with experience growing business for both payment start-ups as well as large global payment providers Robin O’Connell is Chief Revenue Officer at Uphold, leading Growth and Partnerships globally. This follows regulatory approval by the SECthat allows users to turn VCOIN, its in-game virtual currency, into actual money. Uphold has recently been selected as the official infrastructure provider to enable IMVU, the third-largest avatar gaming platform, to let its 7m monthly active users exit the platform and change their VCOIN into any of the 27 national currencies that Uphold supports, including US dollars.
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