The new product powered by MoonPay allows players to easily deposit using stablecoins and cryptocurrencies at iGaming and daily fantasy sports companies.
Paysafe, an international payment platform, today revealed the introduction of Pay with Crypto, a novel cryptocurrency payment option for iGaming operators and daily fantasy sports companies in the U.S. market. Enabled by MoonPay, the top provider in worldwide crypto payments and stablecoin systems, Pay with Crypto enables customers of iGaming brands to conveniently use their chosen stablecoin or cryptocurrency to fund their player accounts, where allowed.
Approximately 70.4 million American adults are said to own cryptocurrency, and Paysafe’s research shows that 83% of U.S. players are interested in crypto payments, prompting the company to introduce Pay with Crypto to satisfy this demand. A player wishing to fund their iGaming account with USD Coin (USDC), another stablecoin, or any leading cryptocurrency can now use Paysafe’s new payment option for operators’ cashiers, which allows for quick conversion of their crypto deposit to U.S. dollars for gameplay.
Upon choosing Pay with Crypto and their desired stablecoin or cryptocurrency, players just link their crypto or custodial wallet to complete the deposit, while the MoonPay Commerce Checkouts technology also facilitates transactions through QR code using users’ mobile devices. After verifying the transactions, Pay with Crypto immediately converts crypto deposits into U.S. dollars to credit the player’s account.
The flexibility inherent in the Pay with Crypto solution also applies to operators, who can opt to settle payments nearly instantly in stablecoins within their business crypto wallet, or in U.S. dollars or other major fiat currencies via MoonPay’s Virtual Accounts driven by Iron.
Operators can enhance their cashiers with Pay with Crypto via a single, seamless integration of the Paysafe Gateway, designed specifically for iGaming and utilizing the company’s 30 years of worldwide expertise. The Gateway, which already features seamless card payments, the Skrill digital wallet, the PaysafeCash eCash option, a Pay by Bank service, and over 30 local payment methods, is further diversifying its services by introducing Pay with Crypto to cater to changing transactional preferences.
Zak Cutler, President of Global Gaming at Paysafe, said: “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. 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.”
Ivan Soto-Wright, Founder and CEO of MoonPay, commented: “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 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.”
