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Sorare and Mangopay Partner to Launch Web3 Cash Wallet Using Fiat Currencies

Sorare, the global sports entertainment company, has partnered with Mangopay, the platform-specific payment infrastructure provider, to launch Cash Wallet. This new feature which allows Sorare’s 5 million registered users or “Managers” to make payments using real-world (‘fiat’) currencies. 

Since launching, Sorare has been working to build a seamless experience where millions of sports fans can enjoy the benefits of Sorare digital cards without experiencing the frictions commonly experienced by consumers who are new to Web3.

Fulfilling potential

Nicolas Julia, CEO and co-founder at Sorare, said: “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 fulfill 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.”

Eliminating barriers

By partnering with Mangopay to introduce fiat currency, Sorare Cash Wallet eliminates one of the main barriers to entry and makes it easier for existing and new Managers to experience its fantasy sports game and marketplace. The solution will allow Managers to securely connect their bank account to Sorare, store credit card details, and deposit money directly in their Cash Wallet. This allows them to buy and sell cards using widely accepted currencies like the US Dollar, Euro or British Pound Sterling.

The launch of the new feature is the latest step in Sorare’s long-term strategy to grow its user base.

Advancements in payment technology

Romain Mazeries, CEO at Mangopay, added: “Our collaboration with Sorare underscores this dedication.  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”.

Starting early August, Cash Wallet will be available to all Sorare Managers as part of the Sorare Wallet System.

Author

  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.

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