Skrill’s Crypto Offering Now Available in U.S.
Digital wallet Skrill has expanded its cryptocurrency offering to the United States, according to a press release shared with U.Today.
The service will be available initially in 11 U.S. states, including New Hampshire, Wyoming and Colorado. More states are expected to be added as soon as regulatory roadblocks get cleared.
The expansion was possible because of a tie-up between leading cryptocurrency exchange Coinbase and Paysafe, the parent company behind Skrill. The wallet will be provided with an unbranded software solution as part of the partnership.
Brett Tejpaul, head of institutional trading at Coinbase, claims that his company's turnkey solution allows for supporting digital assets without building a separate cryptocurrency exchange service for one's app.
Skrill's U.S. customers will be able to hold or trade four cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash and Litecoin. The wallet makes it possible to purchase other coins with BTC with its crypto-to-crypto feature that was rolled out in November 2019.
In his statement, Skrill CEO Lorenzo Pellegrino claims that the launch of the crypto offering will better serve their customers' needs:
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.
Skrill has over 40 million users
Skrill—which was initially known as "Moneybookers" upon its launch in 2001—announced support for cryptocurrency trading back in October 2018.
It boasts over 40 million users worldwide, and it is popular with online merchants.