Singapore-based Coda Payments, a provider of cross-border payments and distribution solutions for digital content, has acquired mobile e-sports tournament platform BAASH.
Upon the acquisition, Coda will extend its existing gaming goods and solutions range. They include Codashop, a marketplace for digital game content, and Codashop Global Series (CGS), a free-for-all community e-sports tournament.
With the BAASH deal, Coda aims to grow and better serve players who want to compete in CGS e-sports tournaments. CGS is present in 17 global markets and has gained over 100,000 participants in the past 12 months.
Coda also intends to optimise the BAASH platform and incorporate the service into Coda’s product line, with details to be announced later.
“This acquisition is an expression of our commitment to offering the best value, experience, and entertainment to our customers, every day, without fail,” Philippe Limes, CEO, Coda Payments.
Also read: Mobile, e-sports, live streaming shaping SEA’s gaming startup landscape in 2021
Launched in 2011, Coda has assisted gaming and entertainment digital content producers in monetising their goods and services in more than 45 markets. It is backed by London-based private equity asset manager Apis Partners and Southeast Asia and payment-focused investment fund GMO Global Payment Fund.
Codapay (a cross-border payments engine) and xShop (a gaming content distribution network) are also among the company’s offerings.
According to a press statement, publishers of games like Moonton (Mobile Legends: Bang Bang), Garena (Free Fire), and Tencent (PUBG Mobile), streaming platforms such as beIN and Bigo Live, apps like Tinder, and video-on-demand platforms, have integrated with Coda to attract customers and accept payments.
Coda claims Codashop is trusted as a source of games and in-game currencies, providing customers over 250 safe payment options and having clocked more than 90 million visits per month.
The platform also boasts of enabling a “seamless purchase experience” with no required registration or log-in and instantly adding game credits or in-game currencies to gamers’ accounts.
Founded in 2016 and owned by Hong Kong-based CAPSL Entertainment, BAASH allows users to create e-sports events, compete in contests, and discover a community of like-minded gaming fans.
According to the “Asia Esports Market Report 2021” research, despite the COVID-19 crisis, e-sports in Asia generated US$543.8 million in revenue in 2020, a 4.9 per cent increase compared to that of 2019, and is slated to grow more robust this year.
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Image credit: Coda Payments
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