Prediction market operator Underdog has partnered with cryptocurrency infrastructure provider ZeroHash to launch cryptocurrency and stablecoin deposit functionality, with the new deposit method expected to launch later this year.
According to the announcement on Thursday, eligible users will be able to directly fund their accounts using supported digital assets through the Underdog app; the service is designed to enable 24/7, near-instant transfers.
Underdog did not specify which cryptocurrencies or stablecoins it will support, nor did it respond to Cointelegraph’s request for clarification prior to the announcement.
This new deposit method complements existing payment options, including debit cards, credit cards, Apple Pay, and bank transfers. Users do not need to manage wallet addresses or select a blockchain network when depositing.
Underdog was founded in 2020. According to IG Group, the company has over 11 million registered accounts. IG Group agreed in July to acquire Underdog for up to $1.3 billion, with the transaction expected to be completed by the end of 2026 or early 2027.
According to DeFiRate data, Underdog’s trading volume over the 30-day period ending October 21 was $1.4 billion, a 133% increase from the prior period, but still significantly lower than Kalshi’s $81.5 billion and the combined $17.2 billion of Polymarket’s U.S. and international platforms.
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