Have you ever used a Skrill digital wallet? Well, if you have, there is more you can do with it now. Skrill Digital wallet is a platform owned by Paysafe, a platform that specializes in payments. Now, the Skrill Digital Wallet made a very interesting announcement that it will now be expanding to cryptocurrencies. This expansion will be valid in the US and will be in partnership with Coinbase.
The deal here boils down to the fact that Coinbase provides a white label solution to the Digital Wallet, Skrill. Through this solution, the users of Skrill will be able to engage in buying and selling cryptocurrencies in over 37 states in the US.
The crypto offering of Skrill was spearheaded in 2018. After this period, Skrill has reached out to over 30 countries. Now, the customers residing in the State of Georgia, Washington, D.C., Washington state, Illinois, Michigan, Ohio, Tennessee, Texas, Virginia, and Puerto Rico, etc will be able to use the wallet to engage in Cryptocurrency exchange.
This is not Skrill’s first teamwork with Coinbase. It has had a history of integration with Coinbase in Europe wherein the support is rendered by Skrill as a liquidity exchange partner. Through the newest expansion, the residents of these States will be able to deal in the purchase and selling of cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. By doing this, it goes in tandem with the recent fad and inclination towards cryptocurrencies. Most wallets are either just cryptocurrency-based or just dollar-based, Skrill provides a great conglomeration of both.
With Skrill, you cannot only use the US dollar to buy cryptocurrencies but can also use Bitcoin to buy other cryptocurrencies. Thus, without the hassle of conversion, the payments can be done in real-time equivalent currencies. You do not have to undergo the hassle of conversion from one currency to another and then pay through relevant currency mode. With the lack of conversion paraphernalia, Skrill users will also face lower transaction fees.
Skrill is all set to mark its success in the eyes and digital wallets of American consumers. The CEO of Skrill, Lorenzo Pellegrino 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.”
Coinbase, too, has great anticipation about this upcoming partnership. Coinbase’s Brett Tejpaul (Institutional Trading Head) has said, “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.”
We hope this integration would lead to a better and more integrated wallet. Skrill’s digital wallet has already earned massive patronage. It is only likely to get better with this new transformation.