Skrill launches fiat-to-crypto withdrawal service for EWR customers

  • Skrill is launching a new fiat-to-crypto service that will allow customers to withdraw BTC and ETH directly to their wallets. 
  • Initially, the service will be available to all countries in the European Economic Area (EEA). 

Skrill, a digital payments provider, continues to expand its services in the cryptocurrency space, as CNF has learned in a press release. Part of its integrated payments platform, Paysafe, has received a new feature that allows users to withdraw funds directly to a cryptocurrency address of their choice. This will be the first time Skrill users will be able to send their fiat funds instantly to an external cryptocurrency wallet.

The process is designed to be intuitive and simple. Thus, users simply need to select “Crypto Wallet” in the withdrawal process, and then specify the corresponding address and amount. Initially, the function will only support the two most important cryptocurrencies on the market, Bitcoin and Ethereum. However, more cryptocurrencies are intended be added in the future.

The feature is available immediately to residents of European Economic Area (EEA) countries and will subsequently be rolled out to the UK and other countries. Commenting on the announcement, Lorenzo Pellegrino, CEO of Skrill, NETELLER and Income Access at Paysafe, said:

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.

The new service continues Skrill’s initiative in the crypto space. The company has been active in the digital payments space since 2001 and started offering cryptocurrency services in 2018. Customers can now buy 40 different cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Dash, EOS, Ethereum (ETH), Ethereum Classic (ETC), Kyber, Litecoin (LTC), Tezos, Stellar, XLM and 0x (ZRX) using euros, US dollars and British pounds.

About Author

Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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