Skrill expands US cryptocurrency offering
Paysafe brand bolsters crypto capabilities as it partners with Coinbase marketplace
Payments solution provider Skrill has expanded its cryptocurrency offering by securing a US-facing partnership with Coinbase.
Under the remit of the white-label agreement, the Paysafe subsidiary will tap into Coinbase’s cryptocurrency marketplace to allow customers in 37 states to buy and sell cryptocurrencies.
Skrill customers will be able to use their digital wallet to buy and sell the likes of bitcoin, ethereum and litecoin across states including Texas, Michigan and Virginia.
Aside from using the US dollar to purchase cryptocurrencies, Skrill customers can also use bitcoin to buy other cryptocurrencies, which Skrill says will result in fewer overall transactions and, therefore, lower fees.
The partnership marks an expansion in the pair’s relationship, with Coinbase acting as an existing liquidity exchange partner for Skrill in Europe.
Lorenzo Pellegrino, Skrill CEO, said: “US 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.”
Brett Tejpaul, Coinbase head of institutional trading, added: “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.”