- Digital wallet provider announces new crypto offering in over 30 countries
- Partnership with cryptocurrency exchange will facilitate transactions worldwide
- Move comes amid flurry of cryptocurrency deals with traditional financial institutions and online payments providers
Leading online money transfer and digital payments provider Skrill has announced the launch of a new cryptocurrency product, giving users in over 30 countries the ability to buy and sell Bitcoin, BCH, Ether, Litecoin and more in any of the more than 40 local currencies Skrill currently supports.
The service is managed by a partnership with a cryptocurrency exchange that processes transactions and may keep a custodial hold on cryptocurrencies in some cases.
Company officials say they plan to go live with Skrill Cryptocurrency Service in additional markets over the next few months. There are also plans to expand the cryptocurrency cross-border payments service to the Skrill mobile app and Paysafe Neteller wallet.
“The world of cryptocurrency trading is exciting and dynamic, and our digital wallet service very much lends itself to this environment,” said Skrill CEO Lorenzo Pellegrino. “I’m confident that the ability to trade in cryptocurrencies quickly and easily through Skrill will appeal to consumers both now and in the future.”
Pellegrino also noted that the partnership will help simplify the process of trading cryptocurrency by moving transactions to a familiar platform for Skrill users.
“We know many people want to experiment with cryptocurrency trading but don’t know where to start and we’ve made the entire process very straightforward,” he added.
The launch of Skrill Cryptocurrency Service comes in the midst of a number of similar partnerships between cryptocurrency and international payments providers. Square, PayPal, JPMorgan Chase, Mastercard, American Express and Banco Santander are just a handful of the remittance services platforms that have begun testing crypto and blockchain technology in recent months.
For more information on emerging trends in the international money transfers market, you can find our 2018 industry report here.
