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December 3, 2021

Gen Z neobank ZELF partners with Discord on banking for gamers

ZELF, a gen Z-focused neobank embedded in social messengers, has launched a banking integration with Discord, a chat server for gamers.

The integration is aimed at enabling gamers to do their banking within Discord and trade virtual assets such as skins, in-game cosmetics, and weapons through real money transactions.

ZELF also announced that from this month, users will be able to order their ZELF MetaPass card from Discord.

As play-to-earn gains, popularity game manufacturers are under pressure from regulators to combat money laundering, assure taxation and anti-terrorism financing compliance.

The neobank is already working to integrate with game manufacturers to help them curb the illegal trade of in-game assets.

According to BNP Paribas, the size of the play-to-earn market is currently $19bn.

Founded in 2020, ZELF claims to be the first neobank of the metaverse and currently has one million registered users and plans to grow to five million by the end of 2022.

ZELF seeks to allow game operators to be able to share in the revenue of out-of-the-game exchanges, sales and even loans with greater transparency.

ZELF CEO Elliot Goykhman said: “The economic models of NFT-based games have garnered much speculation, which is why we are excited to extend play-to-earn functionality to popular non-crypto games. In providing these kinds of controlled financial services to the gaming industry, we help to ensure the sustainability of the gaming economies.

“We believe our tech is coming at the right time to position ZELF as the bank for the gaming generations and the first neobank of the metaverse.”

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