Rivalry introduces $TRUMP payment method as President-elect takes office

In a stroke of marketing prowess, Rivalry, the popular iGaming and sports betting platform focused on engaging with younger audiences, has added the $Trump cryptocurrency as one of the viable payment methods players may now use to deposit and withdraw from the website, Casino Guru News learned in an email press release.

Rivalry pounces on $Trump token as a featured payment option

Introduced by the incoming and former First Lady, Melania Trump, the $TRUMP currency was launched on the eve of Donald Trump’s inauguration as the 47th President. Trump previously held the presidency from 2016 to 2020 as the 45th President before conceding to Joe Biden in the election in 2020.

Now, though the current former President is back and the launch of the $Trump token has coincided with his inauguration. Rivalry has wasted no time, even though the token itself was announced less than 48 hours ago and has already given it the benefit of the doubt, confident that it would be a great pick to feature.

However, Rivalry CEO and Co-Founder Steven Salz is well-versed in cryptocurrency and he acknowledges that the $Trump token may be part of the memecoin culture. With this caveat in mind, Salz explained:

"Meme coins are attention monetized, and the release of $TRUMP just days before an Inauguration is a quintessential internet and crypto culture-driven moment which enabled it to eclipse $30 billion in fully diluted value shortly after its debut."

Rivalry was among the first cutting-edge iGaming and sports betting platforms to actually deploy $Trump within 24 hours of the token’s launch, as a way to offer its users a way to "lean into these universal cultural moments," and all in the hopes of delivering first-of-its-kind experiences to registered players.

Rivalry has, much like other companies in the sector, faced some headwinds. A private placement deal expected to raise C$4.2m fell short of the mark, bringing only C$3.32m, signally diminishing investor confidence.

Rivalry’s zest for innovation is not tempered by past difficult decisions

Rivalry also announced two rounds of layoffs in 2024, one in July when 29 people were let go, and one in October, when another 28 people followed. Salz remained soberingly pragmatic on the occasion, arguing that the company had completed its restructuring in a bid to focus on a new strategic path that the company is exploring.

Rivalry made headlines, becoming the first full-scale esports betting platform to enjoy a strong commercial success. Gradually and rapidly, Rivalry branched off into traditional verticals such as online casinos and sports betting but always brought a unique twist.

The latest decision to launch the $Trump token resonates with Rivalry’s innovation-first DNA, but it may ultimately be the willingness of investors to back the company that will determine its fortunes.

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