In an announcement made earlier today, Skrill Digital Wallet has partnered with the biggest crypto exchange in the United States, Coinbase, to allow citizens of the country buy and sell popular crypto assets like Bitcoin, Ethereum and others.
According to the announcement, the partnership would lead to the integration of Coinbase into the digital wallet platform thereby leading to users of Skrill in Illinois, Michigan, Texas, Washington, D.C., Puerto Rico, and 32 other states to buy and sell cryptocurrencies.
Users of the wallet would be able to exchange their fiat currency for Bitcoin and other crypto assets or they could choose to exchange the digital assets with one another. Presently, this development can only be accessed through the web, however, works are already in place to make it available on the wallet’s mobile application by next month.
The leading digital wallet platform already provides some level of crypto offering to its customers in over 30 countries.
Skrill Cites Increased Demand for Crypto Exposure
According to the CEO of Skrill, Lorenzo Pellegrino, users of its digital wallet were beginning to demand that the platform open its system to crypto. Not only that, the increased focus and interest being shown to the crypto industry by the general public forced the hands of the institution into joining the space.
In his words,
Our crypto offering is just Skrill’s latest US move to provide customers with a best-in-class digital wallet.
Brett Tejpaul who is the head of institutional trading at Coinbase noted that the crypto exchange partnership with Skrill would allow the digital wallet to “provide and support digital assets to their clients without having to learn the nuances of building a crypto exchange.”