Paysafe launches new crypto-based payment solution in USA
Paysafe has launched a new cryptocurrency payment solution for the US iGaming and daily fantasy sports market, as gambling operators look to meet growing demand for alternative funding methods.
The global payments provider on Tuesday unveiled “Pay with Crypto”, a product powered by crypto infrastructure firm MoonPay, enabling players to fund gaming accounts using stablecoins and major cryptocurrencies, where permitted by regulation.
“Galvanized by the growing popularity of stablecoins, cryptocurrency is evolving in the U.S. from an investment asset into a unit of value for payments, and we’re seeing this shift gather pace in the country’s iGaming market,” President of Global Gaming at Paysafe Zac Cutler said.
“Against this backdrop, we’re delighted to unveil Pay with Crypto, a forward-thinking solution that strongly positions U.S. operators for their customers’ changing transactional preferences – the future of how they pay when they play.”
The move comes amid increasing crypto adoption in the United States, with an estimated 70 million adults holding digital assets. Paysafe said its own research shows 83% of U.S. players are interested in using crypto for deposits.
The new solution allows users to connect their crypto wallets and complete transactions via QR code, with deposits automatically converted into U.S. dollars before being credited to player accounts.
Operators can choose to settle funds in cryptocurrency or fiat, offering additional flexibility.
Paysafe said the rollout forms part of a broader strategy to expand its payments ecosystem, which already includes card processing, digital wallets and bank transfer solutions.
MoonPay Founder and CEO Ivan Soto-Wright said the gap in difficulty between making a crypto payment and traditional deposit was narrowing.
“Crypto rails are making payments faster and more efficient, and our job is to close the gap between this technology and real-world utility,” he said.
“People shouldn’t 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.”
Paysafe has a broad range of products that are popular in the online casino and sports betting industry, with these including web wallets like Neteller and Skrill and pre-paid card Paysafecard.
