The Paycent Group subsidiary, Skrill – which operates as a digital wallet and payment service provide – has begun rolling out a new feature that will make it easier to purchase cryptocurrency. The firm announced on Thursday, November 28th, that users would now be able to buy any of the crypto available on the platform by converting another. Skrill users could, previously, only purchase crypto through fiat.
Though initially only supporting the conversion of Bitcoin for other coins (even Ethereum Classic and 0x token), the feature will – in future – support other crypto pairs. The crypto-to-crypto conversion feature will make it quicker and more cost effective for users to take up digital asset positions through Skrill, as they will no longer need to buy crypto by initiating two separate transactions.
Formerly branded Moneybookers, Skrill’s cryptocurrency service enables users to make purchase of nine digital assets, including BTC, ETH, BCH, LTC among others, using any of 40 supported digital currencies. Parent company, Paysafe, has already declared plans to offer their Cryptocurrency Service (facilitated by a partner cryptocurrency exchange, which sometimes doubles as a custodian of the firm’s digital asset holdings) to other markets, including its Neteller digital wallet product.
“Cryptocurrency is an important part of what we do in digital wallets and using our scale and vast experience of the payments industry, we’re continually enhancing our service to help our customers get the most out of the crypto ecosystem.” – Skrill CEO, Lorenzo Pellegrino
The move makes easier for Skrill users to interact with digital assets, which Pellegrino admits are a big big of the payment provider’s business. The stragey also diminishes the need for the service to interface user funds with regular banking infrastructure, as the feature enables the firm to host more transactions, onboard Skrill’s system.
Skrill is one member of Paysafe’s family of companies, its siblings include Merit Card, Neteller (as previously mentioned), Payolution, Paysefe Card, Income Access, as well as FANS Entertainment.
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