The largest crypto exchange in the US Coinbase is partnering with Skrill to offer a cryptocurrency solution that allows users from nearly 40 states to buy and sell digital assets.
The Skrill digital wallet, launched by the professional payment platform Paysafe, will expand its business in the US through collaboration with Coinbase.
Skrill Partnership with Coinbase
Skrill is a digital wallet provider offering a variety of online payment and transfer solutions founded in 2001. The Paysafe Group bought the company in 2018 and has now released its first crypto product for customers in more than 30 countries.
Today, the parent company announced expansion into 37 states and regions in the US, including Illinois, Michigan, Texas, Washington, DC, Puerto Rico, etc. This became possible after partnering with popular crypto exchange Coinbase.
Through this collaboration, Skrill can be integrated into the Coinbase platform. As a result, Skrill customers in 37 regions can use the company’s digital wallet to buy and sell some of the most popular digital assets. These include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
With this new plan, users will be able to interact with cryptocurrencies through US dollars or other digital assets. In other words, they can choose to use World Reserve fiat currency or ETH, LTC, BCH, or any other crypto asset to pay for BTC.
It’s worth noting that Skrill’s crypto products are “rolling out” in phases in the US. This means that the online / web version is already available and the mobile application will be released in early April 2021.
Introduced Due to High Demand for Cryptocurrency Product
Lorenzo Pellegrino, CEO of Paysafe’s Skrill, NETELLER and Income Access, said this new cryptocurrency-focused program follows a surge in consumer interest in the industry. he added: “Powered by Coinbase’s sophisticated platform, our crypto offering is just Skrill’s latest US move to provide customers with a best-in-class digital wallet.”
On the flip side, Brett Tejpaul, Head of Institutional Trading at Coinbase, stated that partnering with Skrill “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.” The collaboration between the two comes as Coinbase plans to go public through direct listing next mo