Paysafe Partners With Coinbase to Bring Skrill Wallet to U.S. Customers
- Through its integration with Coinbase, Skrill will enable its users to not only buy crypto with U.S. dollars, but also with Bitcoin.
- The wallet will be launched in a phased roll-out, with its web version being available immediately, while its mobile app will be released in April.
Skrill mobile app on phone screen in New York, USA, 15 May 2020. Shutterstock
Payments platform Paysafe has partnered with leading cryptocurrency exchange Coinbase to expand its Skrill crypto wallet offering to the U.S., Paysafe said in a press release on 25 March.
According to the announcement, the partnership will allow the Skrill wallet to be used in 37 states across the U.S., enabling users to easily buy and sell multiple cryptocurrencies, such as Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC). By integrating with the Coinbase platform, Skrill will allow its U.S. customers to not only buy crypto with U.S. dollars, but also with Bitcoin, enabling quicker and more convenient transactions with fewer fees. The CEO of Skrill, Lorenzo Pellegrino, said in a statement:
“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.”
Paysafe’s Skrill crypto offering will be launched in a phased roll-out, with its web version being available to customers immediately, while its mobile app is expected to be launched sometime in early April.
Launched in 2018, the Skrill wallet is already available in over 30 countries around the world, with its expansion to the U.S. serving to further strengthen the wallets capabilities. Skrill, as a company, is already serving U.S. customers since 2020, when it unveiled its Skrill Visa Prepaid Card, launched its Skrill Money Transfer remittance solution and introduced its Skrill Knect loyalty and rewards program.
The new partnership will further benefit U.S. customers, considering Coinbase’s plan to increase its support team in the coming months. The exchange has already quadrupled its support staff since November, and plans to further increase the team’s size in the following months.
- A little over $13 million in altcoins were sent to crypto exchanges Binance and Coinbase in the past 24 hours, which is in accordance with a September court order.
- The court ordered a phased liquidation process, which allows the bankruptcy estate to sell $3.4 billion worth of digital assets over a certain period of time.
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- Coinbase’s Base blockchain was made available to the public on Wednesday, featuring over 100 dApps and services as part of its ecosystem.
- In order to show its capabilities and promote its mainnet partners, Base has also launched an event called “Onchain Summer” that will allow users to mint exclusive NFTs on the network.
- During an interview with FT, CEO Brian Armstrong said that before the lawsuit a SEC staff member had said that all crypto except BTC was security, and should be delisted.
- When asked how he came to that conclusion, the SEC staff member reportedly said “we’re not going to explain it to you, you need to delist every asset other that Bitcoin”.