Paysafe unveils Pay with Crypto for U.S. iGaming Markets
- Gambling IQ
- Apr 12
- 2 min read
New solution converts cryptocurrency into dollars almost instantly — cutting out volatility, slashing friction and making crypto as easy as traditional deposits.
Paysafe is expanding into crypto payments for online gambling by introducing Pay with Crypto, a product that lets players fund iGaming accounts using digital assets converted into dollars at the point of deposit. Part of Paysafe’s powerful Gateway, the launch lands as U.S. regulators appear to be inching towards permitting crypto-to-cash funding, a narrower lane than full crypto payments but one that operators say is beginning to look commercially real.
In the company’s view, the moment is no longer speculative: it is operational. Zak Cutler, Paysafe’s president of global gaming, said the sector has reached an inflection point driven less by politics and more by adoption. “It’s demand and adoption,” he says. “We can’t ignore the demand.”
Pay with Crypto sits within Paysafe’s Gateway as part of a broader U.S. market proposition — giving operators access to all the ways players pay through a single integration, and reinforcing Paysafe’s view of payments as a tool for driving growth in the market. Daniel Carson, senior business development director, crypto & iGaming says: “We view this as another payment method” with the aim to give merchants an entry point into the digital asset economy while removing volatility and operational complexity from the operator’s side.
The U.S. allows crypto-converted deposits in a handful of regulated betting states, while still stopping well short of letting operators handle crypto natively. DraftKings has received permission to roll out such a feature in Illinois, Kentucky, New Hampshire and Vermont, according to reporting on a Massachusetts Gaming Commission meeting, while Massachusetts has moved to ban crypto-converted funds as a betting source. Wyoming permitted crypto as a wagering funding method in 2021; Colorado followed in 2022 by allowing deposits converted from crypto to fiat.
For Paysafe, the strategy is familiar: move through regulated markets one jurisdiction at a time, leaning on established relationships with operators and regulators. Zak Cutler says the company will pursue the same “bottoms up” path used in prior product rollouts, adding that the product is intended to reduce fraud, chargebacks and friction for both sides of the cashier. “We’re taking all that away,” he says. “We’re removing all the complexity, the currency fluctuations, anything that would make an operator agree that there’s not really a downside here.”
What follows will be a test not of technology, but of behaviour. If players begin to treat crypto balances as spendable bankroll rather than long-term holdings, volumes should move quickly; if not, the product risks remaining a niche toggle on the cashier page. Daniel Carson notes the simplicity of the flow is critical to that shift: “It allows users to deposit funds in, while the merchant doesn’t need to touch crypto,” he says. For Paysafe, the wager is clear: make it easy, make it familiar, and let demand do the rest.
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