Payment provider Mangopay has announced it will help facilitate fiat currency payments for Sorare users to make real-world transactions whilst interacting on the Web3 sports platform.
Sorare’s five million registered users will now be able to make payments in currencies such as the US Dollar (USD), Euro (EUR), and British Pound Sterling (GBP), in what has been hailed a ‘major milestone’ for the Web3 industry.
From early August, Cash Wallet will be available to all Sorare users as part of its Wallet System.
Romain Mazeries, CEO at Mangopay, stated: “As a frontrunner in the payment infrastructure industry, we are committed to shaping the next era of payments. Our collaboration with Sorare underscores this dedication.
“Sorare, an industry leader in the sports, collectibles, and gaming domains, boasts an impressive growth trajectory with over five million registered users. Partnering with them not only fortifies our strategic position but also paves the way for joint advancements in payment solutions, enhancing accessibility to their innovative blockchain platform”.
By partnering with Mangopay to introduce fiat currency, Sorare Cash Wallet aims to eliminate payment friction and make it easier for existing and new users to experience the sports entertainment marketplace.
The payment solution will allow users to securely connect their bank account to Sorare, store credit card details, and deposit money directly in their Cash Wallet to buy and sell cards.
Nicolas Julia, CEO and Co-Founder of Sorare, added: “Sorare is built using blockchain technology because we believe it can deliver unique benefits to sports fans and fantasy gamers in the form of proven authenticity, scarcity, and portability. However, new technologies must be accessible to all if they are to fulfil their potential.
“The launch of Cash Wallet is key to our goal of making Sorare as simple and user-friendly as possible for all sports fans and we are thrilled that we can now enable Managers to build their teams and collections using real-world (or fiat) currencies for the very first time.”
