Peer-to-Peer sports betting app known for its cryptocurrency transactions will now be offering fiat transactions via its partnership with Prime Trust, LLC.
ZenSports, the mobile peer-to-peer sports betting marketplace where anyone can create and accept sports bets with anyone else in the world without the need for a centralized bookmaker, has just announced the launch of fiat deposits and withdrawals via Debit Card and Wire transfers.
Up until now, ZenSports has primarily focused on cryptocurrency transactions, whereby most of the company’s customers deposit and withdraw funds using USDT (Tether), Bitcoin, and its own native token SPORTS. The company did announce a partnership last year with Paysafe, which allows those that have a Skrill Digital Wallet account to deposit and withdraw funds via fiat. However, the Skrill option requires customers to have a third-party Skrill account, and that option is limited to certain countries.
With its new fiat deposits and withdrawals launch, ZenSports has partnered with Prime Trust, LLC, a U.S. based Trust and Custody firm and financial infrastructure provider for FinTech Innovators. The integration with Prime Trust, LLC will allow customers to deposit fiat funds natively within the ZenSports app using their Debit Card or by making a Wire Transfer, without having to sign up for a separate third party account outside the app. Customers will also now be able to make withdrawals via Wire Transfer directly to their bank account.
According to ZenSports Co-Founder & CEO, Mark Thomas, “We felt it was important to give customers in all countries a native experience to transact using fiat without having to sign up for a third party account.”
When asked why the need to add a fiat option when the company already offers several cryptocurrency options, Thomas said, “While the ZenSports team believes that cryptocurrencies are the future of money in the betting and sports industries (and in the world in general), we recognize that only a small percentage of the world’s population is currently using cryptocurrencies for any type of payment transactions. In order for us to appeal to as wide of an audience as possible, it’s important for us to offer fiat currencies as a mechanism for deposits and withdrawals.”
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