Paysafe digital wallets widen crypto offering to +40 coins

abdelaziz Fathi

Payments giant Paysafe (NYSE: PSFE) has added four new cryptocurrencies for buying and selling across its digital assets service. With the addition of the new batch, Paysafe’s proprietary digital wallets, Skrill and NETELLER, now offer more than 40 cryptocurrencies to customers outside the US.

paysafe

The new cryptocurrencies added to the platform are Avalanche’s AVAX, the Internet Computer Protocol (ICP) by Dfinity, IoTeX’s IOTX and Axie Infinity’s AXS. Notably, the expanded portfolio allows users to set up custom price alerts, condition orders, or make recurring purchases.

Paysafe’s crypto-to-crypto feature enables quicker transactions with lower fees than if done via two separate transactions. Since 2018, Skrill users no longer have to convert their crypto holdings back into fiat currencies before buying another cryptocurrency.

Paysafe’s cryptocurrency conversions are provided via a partner cryptocurrency exchange, which facilitates the buying and selling of digital assets and, in some cases, holds the cryptocurrencies as custodian.

Since its launch, Paysafe has been expanding its crypto service’s scope and functionalities with addition of new cryptocurrencies while extending its reach to more customers.

Earlier this year, Skrill expanded its crypto offering to the US in collaboration with major exchange Coinbase. Given the crowded pipeline of crypto investors, as well as the emerging appetite from millennials, Paysafe onboarded Kraken to participate in its network of cryptocurrency liquidity providers.

This alliance backs Paysafe’s crypto buy and sell products where Skrill and Neteller clients can transact and spend crypto-assets through their wallet accounts.

Chirag Patel, CEO of Digital Wallets at Paysafe stated that the firm’s digital wallets customers show increased interest in crypto. As a result, the potential for this service is growing all the time, and they want to continue to expand at the same rate by adding new functionality, enabling new currencies and launching in new territories.

The Paysafe executive added: “We are excited to be expanding our selection of cryptocurrencies within Skrill and NETELLER, with our latest batch including some very exciting cryptocurrencies available today. Tokens like AVAX, ICP, IOTX and AXS are great additions for us, allowing our customers to get exposure to the rapidly growing DeFi and Play-to-Earn economies. This cements Skrill and NETELLER as ideal platforms for accessing the vibrant crypto world, and our portfolio tools will surely make life easier for our users as well.”

Read this next

Market News

Savvy Investors to Profit Whether the Stock Market Rebounds or Not

Equities have gone up enormously since the low. SP500 has gained 13.88% since June 17. In August, the indices drifted sideways. On Wall Street, veteran investors expect a move in either direction.

Industry News

Wall Street-backed MEMX obtains SEC approval for options trading platform

The company has raised more than $135 million in funding from 18 stock trading and investing heavyweights, including BlackRock, Citadel Securities, and Morgan Stanley.

Industry News

Amundi US launches ESG strategy that seeks to outperform S&P 500

Amundi’s Responsible investing team includes more than 45 specialists, and its ESG analysis covers more than 13,500 issuers across debt and equity.

Industry News

Verto launches embedded FX payments solution

The Verto API automates currency conversions, tracks payments and exchange rates in real-time, and is being launched in the follow-up of a $10 million in Series A funding last year.

Industry News

SEC awards over $16m to whistleblowers after another successful enforcement action

The program is 10 years-old and has arguably played a critical role in the Division of Enforcement’s ability to effectively detect wrongdoing, protect investors and the marketplace, and bring violators to justice.

Digital Assets

Ripple submits most succint explanation of Hinman issue in XRP lawsuit

It might be useful to get up to date as this could be the end of the road for the SEC.

Retail FX

TradingView integrates first Brazilian broker, Órama Investimentos

Órama offers all kinds of investment products, from fixed income to crypto-related funds.

Digital Assets

TRON approves Wintermute to mint, burn USDD stablecoin

TRON Reserve DAO has welcomed crypto market-making giant Wintermute as the ninth member and whitelisted institution to mint Tron network’s stablecoin, Decentralized USD (USDD).

Metaverse Gaming NFT

Nas Academy and Invisible College introduce innovative model for Web3 education

Singapore-based online learning platform, Nas Academy is joining forces with Invisible College to teach people everything they need to know about the Web3.

<