Skrill Continues Its American Crypto Market Expansion by Partnering Up With Coinbase

By embedding Coinbase-powered solutions in its platform, Skrill adds 11 more American states to its service list, enabling more users to buy and sell cryptocurrencies easily.

Integration Opens Doors for Paysafe’s Skrill Users to Instantly Buy and Sell Cryptocurrencies

In another strategic move designed to grow its presence in the American cryptocurrency ecosystem, Paysafe’s digital wallet, Skrill, has finalized a deal with Coinbase, a leading digital currency platform provider.

With the deal signed off, Skrill will receive a new cryptocurrency white-label solution provided by Coinbase, enabling the wallet to expand its services across 11 new US territories. This new white-label solution allows Skrill to serve its digital wallet customers in Alaska, Colorado, Kansas, Kentucky, Maryland, New Hampshire, South Dakota, Tennessee, Virginia, Vermont, and Wyoming.

This first step of Skrill’s US crypto extension, with other states scheduled to be included imminently, further enhances the digital wallet’s capabilities for American users. 2020 has been a busy year for Skrill. Its accomplishments for 2020 in the U.S. included introducing the Skrill Visa Prepaid Card and launching both the Skrill Money Transfer and Skrill Knect loyalty and rewards service.

‘Interest in Crypto Stronger Than Ever,’ Says Skrill CEO

Coinbase, an established Skrill liquidity exchange partner in Europe, integrates with the digital wallet to enable customers in these 11 states to immediately buy and sell cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.

Skrill CEO Lorenzo Pellegrini adds,

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. 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.

The launch of Skrill’s crypto offering in the US is a phased roll-out, with the online/web version of the product available immediately. The mobile app version will be launched in early April 2021. Aside from fiat, Skrill users may also use BTC to buy up other cryptocurrencies enabled on the platform, resulting in fewer overall transactions and lower related fees.

With the inclusion of 11 new states, customers from 37 American states and territories can now use the Skrill crypto solution. Meanwhile, Coinbase has also filed for direct listing instead of an initial public offering. It is currently the largest US-based crypto exchange by volume, with about $1.5 billion in daily trade volumes on average.

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

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.

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