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Skrill launches new fiat-to-crypto withdrawal service

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Feb 23, 2021

London, UK — Digital payments provider Skrill, part of the integrated payments platform Paysafe, has announced a new feature for its digital wallet that enables users to withdraw funds directly to a cryptocurrency address of their choice.

For the first time, Skrill customers are able to instantly convert and withdraw their fiat balance to an external cryptocurrency wallet by entering an address. The feature can be accessed when a customer goes to withdraw funds in their account and selects ‘Crypto Wallet’. The user then enters the balance amount and wallet address of either a Bitcoin or Ethereum wallet.

The withdrawal feature is now live in European Economic Area (EEA) countries, with plans to launch in the UK and elsewhere in the near future, as well as to add additional cryptocurrencies for withdrawal.

Using Skrill’s cryptocurrency service, first launched in 2018, customers can instantly convert 40 fiat currencies, including the Euro, US dollar, and British pound sterling, into interests in Bitcoin (BTC), Bitcoin Cash (BCH), Dash, EOS, Ethereum (ETH), Ethereum Classic (ETC), Kyber, Litecoin (LTC), Tezos, Stellar, XLM. and 0x (ZRX).

“More people than ever are buying cryptocurrency as a long-term investment, particularly in light of recent institutional backing from the likes of Tesla, which has driven Bitcoin to fresh all-time highs,” said Lorenzo Pellegrino, CEO of Skrill, NETELLER, and Income Access at Paysafe.

“Our customers have been enjoying the ability to interact with both fiat currencies and digital assets through Skrill for some time. Expanding a crypto portfolio is incredibly simple with Skrill, thanks to our fiat on-ramp. The new withdraw feature further enhances our service by enabling users to quickly and conveniently move their existing fiat balance to a crypto address of their choosing, saving them both time and money on fees. ”

About Skrill

Skrill has been making digital payments fast, simple, and secure since 2001. It is a world leader in developing global payment solutions for businesses and consumers, whether they’re buying online or sending money to family and friends. Skrill users can purchase cryptocurrency using 40 different currencies, funding their first transaction with popular options such as credit card, bank transfer, or local payment provider.

About Paysafe

Paysafe Group (Paysafe) is a leading integrated payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. With over 20 years of online payment experience, an annualised transactional volume of over US $98 billion in 2019, and approximately 3,000 employees located in 12+ global locations, Paysafe connects businesses and consumers across 70 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. 

Further information is available at www.paysafe.com

Contact Details

Anna Howard, Director of Communications, Europe and Asia, Paysafe
Anna.howard@paysafe.com
Phone: +442038908975