ZenSports Launches Fiat Deposits and Withdrawals With Prime Trust, LLC

Peer-to-Peer sports betting app known for its cryptocurrency transactions will now be offering fiat transactions via its partnership with Prime Trust, LLC.

News provided by

ZenSports

Apr 03, 2020, 08:00 ET

SAN FRANCISCO, April 3, 2020 /PRNewswire/ -- 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, which is a 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."

In addition, "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 the importance of offering fiat currency options to appeal to as many customers as possible."

How It Works

When depositing funds, customers are presented with three choices: SPORTS, Bitcoin, or USD. Within the USD option, there are now 4 choices: USDT (Tether), Debit Card, Wire Transfer, or Skrill.
Customers looking to deposit funds via Debit Card will be prompted to add their Debit Card info. Once added, they'll receive a 4 digit code in their online banking account for that Debit Card, which the customer will enter into ZenSports to verify that the card is theirs. From there, customers can begin depositing funds via their Debit Card.
Customers looking to deposit funds via Wire Transfer will be provided with unique wiring instructions that are tied specifically to their ZenSports account. Once the customer wires the funds, they will be credited to their ZenSports account.
Customers can withdraw funds via Wire Transfer. When withdrawing funds via Wire Transfer, customers will provide their bank wiring instructions and ZenSports will process the withdrawal.
Full KYC verification is done on all customers before they can deposit or withdraw funds via Debit Card or Wire Transfer.

"Prime Trust, LLC is excited to be working with ZenSports. This is a relationship that will empower ZenSports' customers with essential financial rails for continued growth as Prime Trust, LLC continues to expand available offerings, all of which will be available to ZenSports to offer their customers," said Sean Ristau, VP, Technical Business Relationships & Major Accounts.

ZenSports is available for download in both the App Store (iOS) and the ZenSports website (Android).

For press inquiries, please contact:

ZenSports:

Mark Thomas
[email protected]
LinkedIn
Media Kit

PrimeTrust:

Sean Ristau
[email protected]
http://www.primetrust.com
LinkedIn

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SOURCE ZenSports