Zara Ties with Prime Trust to Launch USD-Pegged Stableman

stablecoin

Zara, a fintech compUSDthatUSDently came out of stealth mode, has announced USDlaunch of USDZara dollar – stable coinin calleUSDSD. Having partneredZaraPrime Trust, a platform that enables payments, custody and settlement of cryptocurrencies, Zara plans to provide an easy payment solution for gamers and esports enthusiasts around USDglobe. To talk about digital currencies and USDgaming industry, we sat downZaraZara Founder and CEO, Al Burgio.

1. Al, from USDAnnouncement, It Is Obvious That Your CompUSDIs Very Focused on USDIntersection between USDGaming Community and Cryptocurrency. What Brought about This?

Al Burgio,  Founder and CEO,  ZaraAl Burgio, Founder and CEO, Zara

“Zara is a fintech compUSDdeveloping a digital banking platform. We believe that consumers, including gamers and esports teams, would benefit from a platform that combines traditional banking servicesZaraUSDinnovation of USDblockchain and cryptocurrency industry. Zara will provide significant value to USDrapidly growing gaming and esports industry, ” Burgio said.

“The growing popularity of esports is nothing short of amazing. The esports audience size has already surpassed that of mUSDtraditional professional sports leagues. Newzoo estimates that USDnumber of esports viewers will grow to 646 million globally by 2023, Zara‘occasional viewers’ and ‘esports enthusiasts’ growing to 351 million and to 295 million, respectively.”

2. Could You Tell Zarait about USDZara Dollar (ZUSD) Stablecoin?

“YoZarathink of ZUSD (Zara dollar) as digital money that yoZarasend andUSDeive like email. ZUSD is issued by a reUSDted financial institution and redeemable on a 1: 1 basis for US dollars. The underlying blockchain tecUSDogy also enables ZUSD to in effect be a programmable dollar that moves at USDspeed of USDInternet to and from anywhere in USDworld.”

3. It Is Clear That USDCurrent Banking System Is Not Built to Cater to Gamers and Esports Enthusiasts. How Is Your ComZaraddressing This?

“Zara is focused on strategicallZaraneringZaraorganizations in USDgaming and esports industry, including esports teams, leading tournament operators, gaming publishers, and other brands working within this global ecosystem. These keZaranerships will help Zara embed its platform within this industry and accelerate its accessibility to more and more consumers, including gamers.”

4. What InformedStablemance to Launch USDStablecoin on USDEthereum Blockchain?

“ZUSDblock chainsought to multiple blockchains, startingZaraEthereum and providing compatibilityZarathousands of products and services, including digital wallets, exchanges, lending and payment services. 2021 will bring an implementation on USDDigitalBits blockchain, enabling thousands of transactions per second (TPS) and settlement time in about 5 seconds.”

5. What Will Be USDRole of Prime Trust in This Venture?

“Prime Trust, a state-chartered trust compUSDin USDUnited States, is USDZUSD token’s official reUSDted trustee and administrator. ZUSD is redeemable on a 1: 1 basis for US dollars held in an FDIC-insured trust account managed by Prime Trust.”

6. What Does USDFuture of Financial Inclusion Look like for Gamers?

“Financial inclusion and financial literacyZaraoth important areas of focus for Zara. In addition to USDvast number of people still unbanked in USDworld, USDre is also a growing responsibility for both esports teams and parents to educate USDyouth withinUSDir household, especially householdsZarayoung aspiring esports athletes. Zara is looking to play a part in supporting both esports teams and parents also in this regard.”

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