Skrill, the U.K.-based online payments and e-wallet provider, has introduced a new crypto-to-crypto trading feature that allows users to directly exchange digital assets within the platform. With the update, customers can use their existing bitcoin (BTC) balance to buy and sell eight other supported cryptocurrencies, including bitcoin cash (BCH).
The move expands Skrill’s existing crypto offering, which already allowed users to buy, hold, and sell digital assets through its mobile app. By enabling direct coin-to-coin conversion inside the wallet environment, Skrill is reducing the need for users to first move through fiat currencies when switching from one cryptocurrency to another.
A Broader Crypto Service Inside a Payments App
Skrill has long been known in Europe as a digital payments platform used for online purchases and international money transfers. According to the source material, the service is used by 15,000 merchants, giving it an established position in the online payments sector. Over the past several years, the company has also opened its platform to decentralized digital currencies, reflecting a broader trend of traditional payment firms incorporating crypto-related services.
In announcing the update, Skrill said users can now use their BTC balance to buy and sell the other cryptocurrencies offered on the platform. The supported assets mentioned in the report include BCH, EOS, ETH, ETC, LTC, XLM, XRP, and ZRX. This means customers who already hold bitcoin in Skrill can reallocate exposure across multiple crypto assets without leaving the app.
That functionality matters because in-app swaps can simplify the trading process. Instead of selling a crypto asset into fiat and then using that fiat balance to purchase another token, users can move directly between digital assets. In practice, that may help reduce friction and potentially avoid some of the extra steps associated with fiat-based conversions.
Existing Crypto Access Across Multiple Payment Rails
Skrill had already surprised some crypto users when it previously rolled out support for buying, holding, and selling cryptocurrencies. Its mobile application, available on Android and iOS, allows users to buy crypto through more than 100 payment methods. The platform also supports conversion from 40 different fiat currencies into a list of cryptocurrencies that includes BTC, BCH, EOS, ETH, ETC, LTC, XLM, XRP, and ZRX.
That earlier fiat-to-crypto support laid the foundation for the latest upgrade. The new crypto-to-crypto capability effectively builds on an existing digital asset infrastructure already present in Skrill’s consumer app. Rather than entering the crypto market only as an on-ramp, the company is now offering users a more flexible way to manage positions between supported assets.
For payment platforms trying to remain competitive in digital finance, this is a notable product progression. Users increasingly expect not just access to crypto purchases, but also the ability to rebalance holdings quickly inside a familiar interface. Skrill’s latest feature appears designed to meet that expectation while keeping activity inside its own ecosystem.
Regulated Entity Under the Paysafe Group
Skrill is part of the Paysafe Group, the London-headquartered payments company that also includes another well-known e-money service, Neteller. Its operating company, Skrill Limited, is described in the source as a money service business regulated by the U.K. Financial Conduct Authority (FCA) and licensed to operate within the European Economic Area (EEA).
This regulatory positioning is significant because compliance and licensing remain central issues for payment companies offering crypto-related services. While the report does not suggest that Skrill is changing its legal structure or licensing arrangements as part of this launch, the company’s status as a regulated payments provider gives context to how it presents the product and onboards users.
Account Setup and Verification Requirements
To access the new crypto service, users need to create an account by providing their name, country of residence, local fiat currency, and a valid email address. Skrill, as a regulated business, maintains security and identity-verification procedures. However, according to information cited from its website, buying cryptocurrency does not require any additional verification.
That detail may be especially relevant for users comparing platforms based on onboarding friction. In the crypto market, extra verification layers can be a barrier to entry, particularly for smaller retail users. Skrill’s approach, at least as described in the source material, suggests an effort to balance regulatory obligations with ease of access for customers who want to begin using crypto features quickly.
Fee Structure for Trading and Withdrawals
The report outlines Skrill’s fee schedule for crypto activity and related transfers. For crypto purchases and sales up to €19.99, the fee is €0.99. Transactions between €20 and €99.99 are charged €1.99. For amounts above €100, Skrill applies a 1.50% commission.
Peer-to-peer trades are charged a flat 0.50% fee for transactions denominated in euros, U.S. dollars, or other currencies. For withdrawals, moving funds to a local bank account or through global SWIFT transfers costs €5.50. Withdrawals to a Visa card account carry a significantly higher fee of 7.50%.
These charges are important in evaluating the practical utility of the new feature. While direct crypto-to-crypto conversion can streamline execution, the total cost of using the platform still depends on trading size, funding method, and how users eventually withdraw their balances.
Scheduled Fee Changes Add Another Layer
The article also notes that some fee changes were set to take effect on January 15, 2020. For example, the upload funds fee for users in non-EEA countries would become 2.50%. At the time referenced in the source, the regular upload fee for local and global payment methods, including BTC, was 1.00%.
After that date, Skrill’s domestic transactions fee would become 2% per transaction, and the currency conversion fee could reach as high as 3.99% per transaction. These adjustments underscore a recurring issue in crypto-enabled payment apps: convenience often comes with a layered fee model that users need to study carefully.
For active traders or cost-sensitive customers, the difference between headline functionality and all-in expense can be substantial. Even when a platform introduces a useful feature such as direct crypto swaps, deposit fees, conversion fees, transaction charges, and withdrawal costs collectively shape the real value proposition.
What Skrill’s Update Signals
Skrill’s addition of crypto-to-crypto swaps reflects the continuing convergence of traditional digital payments and cryptocurrency services. Rather than treating crypto only as a niche add-on, established e-wallet providers are increasingly integrating digital assets more deeply into their core product flows. In Skrill’s case, that means moving beyond simple fiat purchases into in-app crypto reallocation.
For users, the update offers a more streamlined way to manage supported coins from one interface. For the broader market, it serves as another example of mainstream payment companies responding to demand for more flexible crypto functionality. At the same time, the usefulness of such services still depends on fee transparency, geographic access, and the limitations of the assets supported on the platform.
Based on the source material, Skrill’s latest launch is less about introducing entirely new cryptocurrencies and more about improving how existing users interact with the crypto assets already available in its ecosystem. That may not be as dramatic as a full exchange rollout, but it is a meaningful step in the gradual normalization of crypto features inside established payments infrastructure.