Paysafe has introduced Pay with Crypto, a payment option for iGaming operators and daily fantasy sports brands in the US.
The service, delivered with MoonPay, lets customers use stablecoins or other cryptocurrencies to add funds to their gaming accounts, where this is allowed.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Players can choose USD Coin (USDC), another stablecoin or a major cryptocurrency at checkout.
The payment is then converted into US dollars so the funds can be used for play.
To make a deposit, users select Pay with Crypto, choose a digital asset and connect either a crypto wallet or a custodial wallet.
MoonPay Commerce Checkouts also allows payment through QR codes scanned on a mobile phone.
After verification, the crypto amount is exchanged into US dollars and credited to the player account.
The arrangement also gives operators different settlement choices.
They can receive funds in stablecoins into a company crypto wallet or settle in US dollars or another major fiat currency through MoonPay’s Virtual Accounts powered by Iron.
Paysafe said operators can add the service through one integration with the Paysafe Gateway, a system built for iGaming.
The gateway already supports card transactions, the Skrill digital wallet, PaysafeCash, a Pay by Bank service and more than 30 local payment methods.
Paysafe Global Gaming President Zak Cutler said: “Galvanised 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.”
The company had also entered a partnership in January to be listed as a recommended card-acquiring option on Pay.com’s payment orchestration platform.
As part of that agreement, Pay.com integrated several Paysafe alternative payment methods, including the Skrill and Neteller digital wallets and the PaysafeCard eCash product.
