It was announced today that payments platform Paysafe has become the latest business to choose Kraken as a crypto asset liquidity provider.
The move comes in advance of Paysafe’s launch of its own crypto buy and sell services through its digital wallets Skrill and Neteller, which provide convenient and simple payment solutions to millions of clients across the globe, making them among the world’s most popular digital wallets.
For Kraken, the announcement attests to the strength of its global liquidity, now powering more than 150 real-time markets for the buying and selling of crypto assets and traditional currencies.
“We’re delighted to be collaborating with Kraken, as we continue our journey of delivering industry-leading, frictionless crypto-asset trading services to our Skrill and NETELLER users,” said Daniel Kornitzer, Paysafe’s Chief Business Development Officer.
With the news, Skrill and Neteller clients will be able to buy, sell, and spend crypto-assets through their accounts, with Kraken providing much of the liquidity.
Kraken will even act as an exclusive liquidity provider for some crypto assets, a testament to its ability to serve as a true marketplace for price discovery even in areas where other exchanges may fall short of satisfactory customer experience.
For example, independent research conducted by Finery Tech recently named Kraken the “clear leader that offers the deepest BTC/EUR liquidity” in a study that also assessed the order books of Binance, Bitstamp, and Coinbase.
Across a variety of markets, the findings show Kraken had the lowest spreads and that our exchange was able to easily handle orders large and small with efficiency.
“We are proud and thrilled to have been chosen by Skrill and Neteller to be a source for their crypto liquidity,” said Kraken’s EMEA Head of Banking, Maximilian Marenbach.
He concluded: “This is a great sign for the growing acceptance of and interest in crypto and amazing news not just for Kraken but the whole industry.”