Skrill launches fiat-to-crypto withdrawal service
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.
Thanks to the new feature, 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. ”