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Paysafe’s Skrill and NETELLER Add Solana Buying and Selling Support
Oct 06, 2021
LONDON, UK — Skrill and NETELLER customers can now buy and sell Solana, one of the top-rated cryptocurrencies on the market and one of the most high performing smart contract blockchains. Solana can also be bought or sold directly against fiat thanks to the integration to the Skrill and NETELLER cryptocurrency services from leading specialised payments platform Paysafe (NYSE: PSFE).
With an active ecosystem of DeFi and NFT projects, Solana is a blockchain platform that uses SOL tokens. As as a Proof-of-Stake (PoS) blockchain, Solana’s focus lies in being heavily optimised for parallel processing and fast networking. Solana claims to be able to process a rapid 50,000 transactions per second without compromising its decentralisation.
Now, Skrill and NETELLER users can manage their Solana portfolio directly in-app. Like with the other 37 cryptocurrencies available on the two digital wallet apps — including Bitcoin, Ethereum, Chainlink, Uniswap — users can set up custom price alerts to notify them of major movements, as well as set up automated and/or recurring purchases. The offering is now live in all countries where the Skrill and NETELLER cryptocurrency services are currently available across Europe, Asia and Latin America. It has not yet launched in the U.S.
“Solana is a very exciting addition to our growing crypto offering for both Skrill and NETELLER,” said Jordan Stoev, Head of Crypto, Skrill and NETELLER, at Paysafe. “Solana is growing at a rapid pace, not just in value but in developer attention and the variety of projects building on it. With its high performance and ecosystem support, we believe many of our users will be excited about the opportunity to buy and sell this currency.”
Stoev added: “With the ongoing surge in interest that we’ve seen in cryptocurrencies over the last couple of years, and even more notably since the start of the pandemic, we are excited to launch new features for our service, like the addition of Solana. We are continually looking to provide our users around the world with better, new and secure ways to interact with their money in a way that is convenient for them.”
Solana is a decentralized computing platform that uses SOL to pay for transactions. Solana aims to improve blockchain scalability by using a combination of proof of stake consensus and so-called proof of history. As a result, Solana claims to be able to support 50,000 transactions per second without sacrificing decentralization. One way Solana achieves high transaction speeds is via a combination of the proof-of-stake consensus mechanism and a new mechanism called “proof of history.” Proof of history is designed to keep time between computers on a decentralied network without all the computers having to communicate about it and come to an agreement.
Skrill has been making digital payments simple, secure and quick since 2001. We’re an acknowledged world-leader in developing global payment solutions for people’s business and pleasure, whether they’re buying online or sending money to family and friends. We also meet the needs of businesses worldwide, helping them build a global customer base and drive growth.
Founded in 1999, NETELLER is a digital wallet which offers people the ability to send and spend money online from a simple account. It allows customers to upload funds from credit and debit cards, bank accounts and a variety of alternative payment methods and use those funds to send money to friends and family or spend online wherever they see NETELLER at the checkout. Customers can also use a prepaid Net+ card wherever Mastercard is accepted. For businesses, NETELLER connects them to millions of wallet holders around the world.
About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading specialized 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 annualized transactional volume of U.S. $100 billion in 2020, and approximately 3,400 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.
The assets, liabilities, and results of operations of Skrill USA are consolidated in Paysafe Limited’s consolidated financial statements; however, Paysafe Limited has no direct equity ownership in Skrill USA.
Further information is available at www.paysafe.com.
Anna Howard, Director of Communications, Europe and Asia, Paysafe