ZenSports, a sports betting DApp powered by smart contracts on the ICON public blockchain, recently announced important regulatory achievements; they’ve secured both a Malta entity and Curacao gaming license. These are key steps in scaling ZenSports and growing their international business.
Thanks to these regulatory steps, ZenSports can now:
- Begin accepting Credit Card and ACH payments
- Grow their presence within the European Union
- Operate in several countries that accept a Curacao gaming license but don’t accept pure skill-based gaming products
- Gain credibility and a fast track to regulatory approval in countries outside the EU
“In addition to growing our customer base and revenue, checking off these regulatory boxes and building moats around what we’re doing is important in giving us the infrastructure to scale into the largest peer-to-peer sports betting platform in the world,” says CEO Mark Thomas on their Medium blog.
ZenSports has made the decision to comply with traditional sports betting laws and licensing requirements in all jurisdictions where they operate to ensure legality and provide sufficient liquidity when necessary (during their early days, at least).
ZenSports is built on the ICON Protocol, and ICON is one of their primary investors. For more detailed information about the licensing arrangements, refer to the original Medium post linked above.