A PayPal like money transfer company has today announced individuals are now able to buy or sell bitcoin, ethereum, bitcoin cash and litecoin from their account.
“The large amount of investment in technology and overall innovation in cryptocurrency has led to the rapid evolution of this space,” Lorenzo Pellegrino, CEO of Neteller, said before adding:
“As cryptocurrencies are increasingly embraced by businesses and consumers alike, this is an industry where we continue to strengthen our presence.
As digital finance leaders, we believe we can play a significant role here and create value for both the industry and consumers.
Connecting the dots between cryptocurrencies and traditional money in an efficient and user-friendly way is needed for cryptocurrencies to gain real traction amongst consumers. At Paysafe, we are in a great position to facilitate that through our leading digital wallets and other payment products.”
Paysafe being the parent company of Neteller. While the latter has a bit of history in the crypto space as early on in 2011 or so it was one of very few ways through which you could move fiat to the then crypto exchanges.
Now they’re completely integrating cryptos, with their fees looking a bit cheaper than the current biggest crypto broker, Coinbase.
Individuals across the world can now move money throughout the globe pretty much instantly with any Neteller user able to quickly turn it into fiat.
Something which may be a sign of the world that is to come, with cryptos starting to be integrated in the traditional financial system which tends to be slow and expensive when moving money across borders.
Through crypto integration, however, one can convert fiat into crypto, send the crypto to anyone in seconds, with the receiver then converting it into fiat again at their end.
Making it very useful for international remittance or international payments, especially when tied up to fiat rails like Neteller or hopefully sometime in the future to actual high street bank accounts.