Skrill, which is part of specialized payments firm Paysafe (NYSE: PSFE), reveals that it has added 20 other virtual currencies to its digital wallet for its clients to purchase and sell.
As mentioned in a release shared with Crowdfund Insider, the new additions bring the total number of available digital currencies within Skrill to 35 for clients residing outside of the US. The expanded portfolio is currently available within NETELLER, which is another one of Paysafe’s proprietary online wallets.
Following its initial expansion into the US in March 2021, Skrill has introduced its virtual currency buy and sell service in 11 other US states and territories, including California, Florida, Massachusetts, North Carolina and Pennsylvania. It’s currently available across 48 US states and territories in total (certain conditions may apply).
Since its launch back in 2018, Skrill has been focused on expanding and improving its crypto offering, adding new digital currencies and capabilities. Its crypto service is being offered in nearly 100 countries. Using Skrill, clients are able to perform direct crypto-to-crypto currency conversions along with being able to establish recurring or conditional orders (for instance, based on price fluctuations).
The expansion of Skrill’s crypto service has come after research released by Skrill and Paysafe earlier in 2021 which showed that, among 8,000 clients, 28% think that virtual currencies are a suitable investment for the future and 38% have “already either invested in or bought a cryptocurrency,” the announcement revealed.
Rupinder Singh, Paysafe’s SVP, Consumer, Digital Wallets, stated:
“After a surge in overall activity in the industry we’re seeing more interest in cryptocurrency than ever from our digital wallet customers, both current and new. The potential for this service is growing all the time, and we want to continue to expand responsibly what we offer at the same rate by adding new functionality, enabling new currencies and launching in new territories. Our aim is to make it ever easier for consumers to get started in crypto using Skrill or NETELLER.”
The new cryptocurrencies now available include: Aave (AAVE), Ankr (ANKR), Balancer (BAL), Decentraland (MANA), Celo (CGLD), Curve (CRV), Compound (COMP), The Graph (GRT), Numeraire (NMR), NuCypher (NU).
The platform now also supports: Loopring (LRC), Synthetix Network Token (SNX), UMA (UMA), Maker (MKR), SushiSwap (SUSHI), Storj (STORJ), Uniswap (UNI), SKALE (SKL), Polygon (MATIC) and Dogecoin (DOGE).
Skrill account holders based in the following States/territories may also access the online wallet’s crypto feature: Florida, Rhode Island, South Carolina, Arizona, California, Iowa, Massachusetts, North Carolina, Pennsylvania, US Virgin Islands and Guam.
Skrill aims to make virtual payments “simple, secure and quick” since 2001.
The company states:
“We’re an acknowledged world-leader in developing global payment solutions for people’s business and pleasure, whether they’re buying online or sending money to family and friends. We also meet the needs of businesses worldwide, helping them build a global customer base and drive growth.”
In the US, Skrill is doing business as Skrill USA, Inc. The assets, liabilities, and results of operations of Skrill USA are “consolidated in Paysafe Limited’s consolidated financial statements; however, Paysafe Limited has no direct equity ownership in Skrill USA.”