Paysafe is a leading specialized platform for payments. It announced on Thursday that its Skrill digital wallet is expanding its cryptocurrency offering to the U.S., along with the partnership with Coinbase. Now, Coinbase is the digital currency platform provider. This deal is seeing that Coinbase is about to provide a new cryptocurrency with a white label solution to Skrill. It is now continuing with the digital wallet of the U.S. expansion, allowing customers across 37 states and territories to buy and sell various cryptocurrencies easily.
The crypto offering of Skrill, which was first launched in 2018 and is already available in 30 countries, can now be used by the consumers of various countries, including Georgia, Ohio, Michigan, Illinois, Tennessee, Texas, Virginia, Washington D.C, Washington State, Puerto Rico, and 27 other states. Through the integration with the Coinbase platform, an existing Skrill liquidity exchange partner in Europe is taking place in this venture. Skrill customers in these states now can use this digital wallet for instantly buying and selling all cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
Besides the U.S dollar, the Skrill users now also have the option to use Bitcoin to buy other cryptocurrencies. It is enabling much quicker and convenient transactions by allowing the customers to avoid transforming their interest back to fiat currencies. It is going to result in a fewer number of overall transactions, along with lower amounts of related fees.
This first phase of the expansion with other states is now expecting to add many prospects. It is going to strengthen the capabilities of the digital wallet for American consumers. It is going to unveil the Skrill Visa Prepaid Card and launch both the Skrill Money Transfer remittance solution and Skrill Knect loyalty with a rewards program.
About this matter, Lorenzo Pellegrino, the CEO of Skrill, NETELLER, and Income Access at Paysafe, said, “U.S. consumer interest in cryptocurrencies and cryptocurrency trading is stronger than ever, so we’re delighted to better serve our customers’ needs by launching our Skrill crypto offering in the country in partnership with Coinbase. Powered by Coinbase’s sophisticated platform, our crypto offering is just Skrill’s latest U.S. move to provide consumers with a best-in-class digital wallet.”
According to Brett Tejpaul, the Head of Institutional Trading at Coinbase, they are focusing on building the crypto economy. They are looking to partner with powerful leaders like Skrill, who can white-label their turnkey solution to facilitate and support digital assets to their clients.