Traditional payment companies are paying more and more attention to cryptocurrencies

On the threshold of 2020, new tools with unique functionality are emerging in the cryptocurrency industry that can simplify the payment process.

Last year, the community saw a unique merger of traditional payment companies with cryptocurrency-the Skrill and PayPal platforms seek to provide new opportunities for buying and using digital currencies.

This step provoked a certain ambivalence, when significant benefits are obvious, but not fully realized. In other words, traditional payment companies show progress in development, but the work done is still not enough.

Cryptocurrencies have been developing for several years and recently many traditional payment companies have stopped looking at them as tools with deviations from the norm. On the contrary, they consider this area promising.

Such companies try to consistently provide new products and services for the cryptocurrency community. For example, the online payment platform Skrill recently announced the launch of a cryptocurrency purchase and sale service, with which users can exchange bitcoins for other crypto assets.

For more than a year, Skrill has been offering a gateway for converting Fiat to cryptocurrency, allowing users to purchase cryptocurrencies using a credit card or Bank transfer. The new service is a simple and convenient gateway that provides both cryptocurrency enthusiasts and novice users with access to digital currencies.

However, traditional platforms face the problem of storing cryptocurrencies. Skrill partially solves this problem by providing custodial services through a service that provides remote storage of user assets without direct access to them.

Well-known payment companies, such as PayPal, also do not stand aside and direct resources to cryptocurrency startups. For example, PayPal Ventures funds a blockchain Analytics company that helps the cryptocurrency industry gradually introduce itself to financial institutions. This is the direction PayPal discovered a few months ago-after the release
from the Libra consortium.

Other platforms, such as Wirex, are trying to use the payment traffic from Visa to develop a reward program based on cryptocurrencies. It connects directly to the new Visa Travelcard.

These programs are still quite young and it is still unclear whether they will speed up the process of accepting cryptocurrencies among ordinary consumers.

What is clear is that traditional payment platforms are gradually entering the cryptocurrency space, and their solutions make it easier for users to buy, sell and use digital currencies.