We’re excited to announce today the launch of fiat deposits and withdrawals via Debit Cards and Wire Transfers for all of our ZenSports customers.
Up until now, our team has primarily been focused on cryptocurrency transactions, since most of our customers deposit and withdraw funds using USDT (Tether), Bitcoin, and our own native token SPORTS. Last year, we announced a partnership with Paysafe, which allows players with a Skrill Digital Wallet account to deposit and withdraw funds via fiat. However, this option requires customers to have a third-party Skrill account, and that option is limited to certain countries.
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. While we believe that cryptocurrencies are the future of money in the betting and sports industries (and in the world in general), we recognize that not everyone is currently using cryptocurrencies for payment transactions. For us to appeal to as wide of an audience as possible, we felt it was important to also offer fiat currencies as a mechanism for deposits and withdrawals.
For our new fiat deposits and withdrawals launch, we’ve 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 any customer to deposit fiat funds natively within the ZenSports app using their Debit Card or by making a Wire Transfer without signing up for a third party account outside our app. You’ll also now be able to make withdrawals via Wire Transfer directly to your bank account.
How It Works
- When depositing funds using the USD wallet option, there will now be 4 choices: USDT Tether, Debit Card (new), Wire Transfer (new), or Skrill:
2. If you want to deposit funds via Debit Card, you’ll be prompted to add your Debit Card info:
3. Once added, you’ll receive a 4 digit code in your online banking account for that Debit Card, which you will enter into ZenSports to verify that the card is yours. From there, you can begin depositing funds via your Debit Card:
4. If you want to deposit funds via Wire Transfer, you’ll be provided with unique wiring instructions that are tied specifically to your ZenSports account. Once you wire funds to that unique account, the funds will be credited to your ZenSports account:
5. You can withdraw funds via Wire Transfer (but not Debit Card). When withdrawing funds via Wire Transfer, you’ll provide your bank wiring instructions and ZenSports will process the withdrawal:
6. Full KYC verification is done on all customers before you can deposit or withdraw funds via Debit Card or Wire Transfer:
Sean Ristau, VP, Technical Business Relationships & Major Accounts at Prime Trust is excited about the new partnership as well. “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.”