Global payments platform, Paysafe, has launched Pay with Crypto, a new crypto payment method for iGaming operators and daily fantasy sports brands in the US market.
Powered by MoonPay, leader in global crypto payments and stablecoin infrastructure, Pay with Crypto allows iGaming players to use their preferred stablecoin or cryptocurrency to effortlessly fund their player accounts, where permitted.
With an estimated 70.4m US adults now owning cryptocurrency and with Paysafe’s own research indicating that 83% of US players have an appetite for crypto payments, the company has responded to meet this demand. Whether a player wants to fund their iGaming account using USD Coin (USDC), another stablecoin, or any major cryptocurrency, Paysafe’s new payment option for operators’ cashiers enables their crypto deposit to be rapidly converted to US dollars to allow play.
After selecting Pay with Crypto and their preferred stablecoin or cryptocurrency, players simply connect their crypto or custodial wallet to fund the deposit, with the MoonPay Commerce Checkouts technology also supporting transactions via QR code using users’ phones. Once transactions have been verified, Pay with Crypto instantly converts crypto deposits into US dollars to fund the player account.
The flexibility embedded in Pay with Crypto also extends to operators, who can choose to settle payments almost instantly in stablecoins in their business’s crypto wallet, or settle in US dollars or any major fiat currency through MoonPay’s Virtual Accounts powered by Iron.
Operators can upgrade their cashiers with Pay with Crypto through a single, streamlined integration of the Paysafe Gateway, which has been developed specifically for iGaming and leverages the company’s 30 years’ global experience.
With the Gateway already boasting frictionless card payments, the Skrill digital wallet, the PaysafeCash eCash solution, a Pay By Bank product and 30+ the local payment methods, the addition of Pay with Crypto sees Paysafe continue to diversify its offering to meet evolving transactional preferences.
Zak Cutler, President of Global Gaming at Paysafe, says: “Galvanized by the growing popularity of stablecoins, cryptocurrency is evolving in the US from an investment asset into a unit of value for payments, and we see this shift gather pace in the country’s iGaming market.
“Against this backdrop, we are delighted to unveil Pay with Crypto, a forward-thinking solution that strongly positions US operators for their customers’ changing transactional preferences; the future of how they pay when they play.”
Ivan Soto-Wright, Founder & CEO of MoonPay, adds: “Crypto rails are making payments faster and more efficient, and our job is to close the gap between this technology and real-world utility.
“People should not have to convert their digital assets just to make a purchase; they want to use what they already have. Paysafe brings that experience to more people through trusted, regulated platforms.”
