Skrill started by payment platform Paysafe has rolled out a plan to expand its crypto offerings in the United States through its partnership with Coinbase.
Coinbase is a top crypto exchange that facilitates cryptocurrency trading. Skrill is a digital payment and money transfer platform formed in 2001. Skrill facilitates online transactions for online
Skrill digital wallet was rolled out in 2018 by Paysafe Group. However, Skrill’s crypto offering services have been hitherto accessible to Skrill users in a few states.
Skrill and Coinbase Partnership
Coinbase will provide white labeling solutions to Skrill through the integration of the two platforms. Thus, Skrill will offer more accessible crypto trading solutions to other states not yet covered.
This move has elicited optimism regarding the overall development of the decentralized currency. Skrill’s CEO, Lorenzo Pellegrino, cemented the impending impact of the partnership:
“…our crypto offering is just Skrill’s latest US move to provide customers with a best-in-class digital wallet.”
~Lorenzo Pellegrino, CEO(Skrill)
The team at coinbase also expressed excitement over the partnership with Skrill. Coinbase’s Head of Institutional Trading, Brett Tejpaul reiterated the fact that Skrill digital wallet will use “our turnkey solution to provide and support digital assets to their clients without having to learn the nuances of building a crypto exchange.”
Trading Crypto on Skrill
Skrill digital wallet enables skrill users to buy and sell cryptocurrencies. The digital wallet supports Cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
Trading crypto on Skrill is favorable as it allows crypto traders to trade one crypto with the other. For instance, buying bitcoin on skrill may be done using Litecoin and vice versa. The need to convert crypto into fiat currency before buying becomes unnecessary, which ultimately saves time.
Buying bitcoin on Skrill using fiat currency such as the US dollar is also possible.
States and Territories Supported
Skrill and Coinbase partnership will support the following additional states and territories:
Alabama, Arkansas, Colorado, Connecticut, Delaware, Georgia, Idaho, Illinois, Kansas, Kentucky, Maine, Maryland, Michigan, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, South Dakota, Tennessee, Puerto Rico, Texas, Utah, Vermont, Virginia, Washington State, West Virginia, Wisconsin, Wyoming, Washington D.C.