Paysafe (NYSE: PSFE) announced the launch of Pay with Crypto, a cryptocurrency payment method for iGaming operators and daily fantasy sports brands in the United States. The solution, powered by MoonPay, enables customers to deposit funds using stablecoins or cryptocurrencies where permitted.

The payment system allows players to use USD Coin, other stablecoins, or major cryptocurrencies to fund their accounts. Players connect their crypto or custodial wallets to make deposits, with MoonPay Commerce Checkouts technology supporting QR code transactions via mobile phones. The system converts crypto deposits into US dollars to fund player accounts.

Operators can choose settlement options including nearly instant payments in stablecoins to their crypto wallets or settlement in US dollars or other fiat currencies through MoonPay's Virtual Accounts powered by Iron.

The solution integrates through Paysafe Gateway, which already supports card payments, Skrill digital wallet, PaysafeCash, Pay by Bank products, and over 30 local payment methods. Paysafe cited research indicating approximately 70.4 million American adults own cryptocurrency and that 83% of US players have interest in crypto payments.

"Cryptocurrency is evolving in the US 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," said Zak Cutler, President of Global Gaming at Paysafe.

Ivan Soto-Wright, Founder and CEO of MoonPay, stated that the partnership aims to close the gap between crypto technology and real-world utility, allowing people to use their existing digital assets for purchases.

The information is based on a company press release.