Skrill confirms it will support Bitcoin transactions

News on 29 Jul 2018

Payment processor Skrill has announced its support of four major cryptocurrencies on its popular e-wallet application, adding Bitcoin, Bitcoin Cash, Litecoin, and Ethereum currency options for its customer base of over 25 million spread worldwide.

Customers can now buy and sell the cryptocurrencies using any of the 40 available fiat currency options, including USD, EUR, SGD, and NZD. Customers from over 30 countries can directly purchase digital assets via the Skrill platform, including UAE, Australia, and Canada….but the update was not rolled out to U.S. and Russia, two critical digital payment markets, due to strict legislation around cryptocurrencies.

Lorenzo Pellegrino, the CEO of Skrill and sister-company Neteller, said in a company statement: “The world of cryptocurrency trading is exciting and dynamic, and our digital wallet service very much lends itself to this environment.”

Pellegrino said that customers would now have the ability to “easily and quickly” transact via Skill’s platform and fully expects the service to remain far into the future. He believes customers want to “experiment” with cryptocurrency but remain at a crossroads when searching for trading platforms.

While users will only be able to buy and sell bitcoin and a few other cryptocurrencies, Skrill account holders should have the ability to send and receive funds in BCH shortly.

“We know many people want to experiment with cryptocurrency trading but don’t know where to start and we’ve made the entire process very straightforward,” he said.

Pellegrino revealed that the parent company of Skrill, Paysafe, intends to roll out cryptocurrency services to the popular Neteller digital wallet, an e-money transfer service for customers to pay merchants and access forex trading courses.

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