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Watch: Dr Joe Borg on Blockchain and the future of gaming in the UAE
“Malta is a hot spot right now,” Borg said. “Most of the largest operators in the Crypto space have chosen Malta as their base, similar to what happened with online gambling in 2006 and 2008.” He explained that the macroeconomic risk of Crypto as an asset class has decreased over the last two to three years, and even traditional finance companies are beginning to engage with it.
Borg also noted the influence of U.S. policy on Crypto adoption. While previous regulatory approaches, particularly by the SEC, were restrictive, the Trump administration’s pro-Crypto stance encouraged operators to explore the market more aggressively. “Operators that don’t move now are already late,” he added, drawing parallels with the online gambling sector.
The conversation addressed the growing involvement of Electronic Money Institutions (EMIs) and investment services firms in Crypto. Borg observed a significant increase in revenue streams derived from Crypto payments, noting that they now constitute double-digit percentages of monthly income for operators. Public adoption is also expanding: “When I started in Crypto in 2016, only a few people owned it. Today, everyone raises their hand, especially younger groups.”
On regulation and player safety, Borg stressed the importance of guiding operators through compliance rather than restricting innovation. He predicted that, as Crypto becomes increasingly regulated globally, issues operators face with traditional bank accounts will mirror challenges with Crypto accounts. Limiting unregulated transactions is a key enforcement tool. “The first step would be to allow licensees to accept Crypto in line with MiCA policies,” he said, noting that this would shift some business from grey markets into regulated channels.
Borg also touched on the Gulf Cooperation Council (GCC) region, specifically the UAE. While acknowledging the conservative starting point, he described a gradual, structured opening to the Crypto and gaming industries. Ras Al Khaimah, in particular, is positioning itself as a first mover, with a dedicated department in the Tourism Development Authority to support gambling operators. “B2B operators should explore Ras Al Khaimah first,” Borg said, emphasizing regulatory and banking support advantages.
Looking forward, Borg believes the convergence of blockchain, Crypto, and gambling regulation will create transparency, efficiency, and trust for operators, players, and regulators alike. Smart contracts and decentralized systems are already being integrated into operator platforms, enhancing visibility and problem-behavior tracking. “Blockchain hits the win-win-win scenario,” he said, benefiting business, end-users, and regulators.
Concluding, Borg reflected on the trajectory of Crypto and gaming adoption globally. He compared current regulatory hesitancy to early resistance to online gambling, emphasizing that timely engagement is critical. “Now is the time. Four years ago would have been better, but at least start now,” he said.
As the industry evolves, Malta remains a central hub in Europe, while GCC jurisdictions like the UAE are emerging as long-term growth regions. Crypto, blockchain, and decentralization are not just trends. They are shaping the future of gambling and financial services worldwide.
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