Paysafe’s NETELLER launches fiat-to-crypto withdrawal service

Digital payments provider NETELLER has announced a new feature for its digital wallet that enables users to withdraw funds directly to a cryptocurrency address of their choice.

Customers of NETELLER, which is part of the specialised payments platform Paysafe (NYSE: PSFE), are able to instantly convert and withdraw their fiat balance to an external cryptocurrency wallet by entering an address. The feature can be accessed when a customer goes to withdraw funds in their account and selects ‘Crypto Wallet’. The user then enters the balance amount and wallet address of either a Bitcoin or Ethereum wallet.

The withdrawal feature is already live in ten countries internationally including the UK, Chile, Canada and Australia, with plans to roll it out in additional countries and add more cryptocurrencies for withdrawal in the future. The launch follows the availability of the fiat-to-crypto withdrawal service for Skrill, Paysafe’s other digital wallet, in February of this year.

Using NETELLER’s cryptocurrency service, customers can instantly convert 40 fiat currencies, including the Euro, US dollar, and British pound sterling, into interests in 38 different cryptocurrencies including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC) and, most recently, Solana (SOL).

“With so much interest in the digital asset space right now we’re excited to announce this new feature for NETELLER’s cryptocurrency service, which is the latest in a series of new additions and enhancements,” said Jordan Stoev, Head of Crypto, Skrill and NETELLER, at Paysafe. “The new withdrawal feature saves both time and money spent on fees for our NETELLER cryptocurrency users by allowing them to move their existing fiat balance to a crypto address of their choosing.”