Paysafe Digital Wallets Expands Crypto Offer To +40 Coins
Payments giant Paysafe (NYSE: PSFE) has added four new cryptocurrencies for buying and selling through its digital asset service. With the addition of the new bundle, Paysafe’s proprietary digital wallets, Skrill and NETELLER, now offer over 40 cryptocurrencies to customers outside of the United States.
The new cryptocurrencies added to the platform are AVAX from Avalanche, Internet Computer Protocol (ICP) from Dfinity, IOTX from IoTeX and AXS from Axie Infinity. Notably, the extended portfolio allows users to set up personalized price alerts, package orders, or make recurring purchases.
Paysafe’s crypto-to-crypto feature allows for faster transactions with lower fees than if they were done through two separate transactions. Since 2018, Skrill users no longer have to convert their crypto holdings back to fiat currencies before purchasing another cryptocurrency.
Paysafe’s cryptocurrency conversions are provided through a partner cryptocurrency exchange, making it easy to buy and sell digital assets and in some cases hold the cryptocurrencies as a custodian.
Since its launch, Paysafe has extended the scope and functionality of its crypto service with the addition of new cryptocurrencies while expanding its reach to more customers.
Earlier this year, Skrill expanded its crypto offering in the United States in collaboration with the main exchange Coinbase. Given the crowded pipeline of cryptocurrency investors, as well as the emerging appetite of millennials, Paysafe has joined Kraken to participate in their network of cryptocurrency liquidity providers.
This alliance supports the buying and selling of crypto products from Paysafe where Skrill and Neteller customers can transact and spend crypto assets through their wallet accounts.
Chirag Patel, CEO of Digital Wallets at Paysafe, said customers of the company’s digital wallets are showing increased interest in crypto. As a result, the potential of this service continues to grow and they want to continue to grow at the same rate by adding new features, enabling new currencies and entering new territories.
The Paysafe executive added, “We are delighted to expand our selection of cryptocurrencies in Skrill and NETELLER, with our latest bundle featuring some very interesting cryptocurrencies available today. Tokens like AVAX, ICP, IOTX, and AXS are great additions for us, giving our customers exposure to the rapidly growing DeFi and Play-to-Earn economies. This consolidates Skrill and NETELLER as ideal platforms to access the dynamic world of crypto, and our wallet tools will make life easier for our users as well. “