Paysafe’s Skrill partners with Coinbase to expand crypto offering to US

Specialised payments platform Paysafe has just announced that its Skrill digital wallet expanded its cryptocurrency offering to the US through a partnership with digital currency platform provider Coinbase.

According to the partnership agreement, Coinbase will provide a new cryptocurrency white label solution to Skrill, advancing the digital wallet expansion in the US by enabling customers across 37 states and territories to buy and sell multiple cryptocurrencies.

Skrill first launched its crypto offering in 2018 and its now available in more than 30 countries. Consumers can use the offering in Georgia, Illinois, Michigan, Ohio, Tennessee, Texas, Virginia, Washington, D.C., Washington state, and Puerto Rico, among 27 other states. The integration with the Coinbase platform, Skrill customers in these states can use the digital wallet to buy and sell cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.

digital wallet

Brett Tejpaul, Head of Institutional Trading at Coinbase, commented:

Brett Tejpaul, Coinbase

Brett Tejpaul
Source: LinkedIn

As we focus on building the crypto-economy, we look to partner with leaders like Skrill who can white-label our turnkey solution to provide and support digital assets to their clients without having to learn the nuances of building a crypto exchange.

Along with the US dollar, Skrill users can also buy other cryptocurrencies with Bitcoin, allowing quicker and more convenient transactions while customers can avoid having to convert their interests back into fiat currencies. This will result in fewer transactions and thus reduce the related fees.

The first phase of Skrill’s expansion in the US will begin immediately and strengthen digital wallet’s capabilities for American consumers. Some of the 2020 highlights of Skrill the US include unveiling the Skrill Visa Prepaid Card and launching both its Skrill Money Transfer remittance solution and Skrill Knect loyalty and rewards program.

Lorenzo Pellegrino, CEO of Skrill, NETELLER, and Income Access at Paysafe, said:

Lorenzo Pellegrino, Skrill, PaySafe

Lorenzo Pellegrino

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.

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