Skrill Introduces New Tiat-to-Crypto Withdrawal Service

Skrill, a leading global payment solutions provider, part of the integrated payments platform Paysafe, recently announced that it has launched new fiat-to-crypto withdrawal service for its digital wallet, enabling users to withdraw funds directly to a cryptocurrency address of their choice.

The new launch allows Skrill customers 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.

Available in European Economic Area (EEA) countries now, the withdrawal is expected to be launched 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).

Lorenzo Pellegrino, CEO of Skrill said:”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.”