Skrill Adds Wallet Support for Bitcoin, Bitcoin Cash, Litecoin, and Ethereum

On July 25, 2018, London-based Skrill announced its support of four major cryptocurrencies on its popular wallet application.

As per a report on Finance Magnates, Skrill added 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. The digital wallet and mobile payments facilitator was founded in 2001 as "Moneybookers," and rebranded to Skrill in 2011.

Customers from over 30 countries can directly purchase digital assets via the Skrill platform, including UAE, Australia, and Canada.

The update is the payment provider's first step in the burgeoning cryptocurrency sector, joining a small list of other providers which now offer similar services.

Interestingly, Skrill offers licensed gambling and sport betting applications in a few jurisdictions, and it remains to be seen if the addition of cryptocurrencies increases, or decreasing, the controversial recreational activities.

"The world of cryptocurrency trading is exciting and dynamic, and our digital wallet service very much lends itself to this environment."

The entrepreneur believes customers want to "Experiment" with cryptocurrency but remain at a crossroads when searching for trading platforms.

As stated in the report, customers can only trade cryptocurrencies via the Skrill application.

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.