The payments giant will let US iGaming operators accept stablecoin and cryptocurrency deposits through MoonPay's infrastructure, tapping into a market where 83 per cent of players say they want crypto payment options.
Paysafe, the payments processor that handled $167 billion in transactions last year, launched a crypto deposit product for US online gambling operators on 7 April — a partnership with MoonPay that marks the first time a major payment platform has offered native cryptocurrency funding to the regulated iGaming sector.
The product, called Pay with Crypto, lets players select a stablecoin or cryptocurrency at checkout, connect a wallet, and fund their account. Deposits are converted instantly to US dollars on the operator's side, meaning the gambling platform never has to hold or manage digital assets directly. Players can complete the transaction through a direct wallet connection or by scanning a QR code — a flow that MoonPay's Commerce Checkouts technology handles behind the scenes. The entire process takes seconds, not the minutes or hours that bank wire deposits typically require.
What makes the product interesting is the settlement flexibility it offers operators. Platforms can choose to receive funds almost instantly in stablecoins, settling to a crypto wallet, or take settlement in US dollars or any other major fiat currency through MoonPay's Virtual Accounts, a service powered by the fintech firm Iron. That dual-track option removes the biggest objection most gambling operators have raised about accepting crypto: the volatility and accounting complexity of holding digital assets on their balance sheet.
Paysafe's own research found that 83 per cent of US players have an appetite for crypto payment options, a figure that tracks with broader adoption data. Approximately 70.4 million American adults now own some form of cryptocurrency, according to the company's filings. The gap between that demand and the payment options actually available at regulated sportsbooks and online casinos has been conspicuous; most operators accept bank transfers, debit cards, and a handful of e-wallets, but crypto has remained largely absent from the menu.
"Cryptocurrency is evolving in the US from an investment asset into a unit of value for payments," said Zak Cutler, President of Global Gaming at Paysafe. The statement is part aspiration, part observation. Crypto payments in retail commerce remain negligible by volume, but the gambling sector has always been an early adopter of payment innovation. Online poker rooms were among the first legitimate businesses to accept bitcoin over a decade ago, though regulatory constraints later pushed most of that activity offshore.
The [stablecoin market has swelled past $317 billion](/news/stablecoin-supply-surpasses-317-billion-as-transaction-volume-eclipses-us-ach-payment-network/) in total supply, with transaction volume now exceeding that of the US ACH payment network. That infrastructure, particularly USDC on Solana and Ethereum which settles in seconds rather than the days required by traditional payment rails, is what makes a product like Pay with Crypto commercially viable. Three years ago the conversion costs and settlement delays would have made stablecoin deposits impractical for a gambling operator running real-time account funding. The plumbing has caught up.
MoonPay, for its part, has been aggressively expanding beyond its original consumer on-ramp business. The company's stablecoin infrastructure now powers transactions inside Paysafe, a distribution channel that reaches thousands of merchants across iGaming, daily fantasy sports, e-commerce, and financial services. Ivan Soto-Wright, MoonPay's founder and chief executive, described the integration as evidence that "crypto rails are making payments faster and more efficient," though the real test will be whether operators see enough player demand to justify the integration costs.
Regulatory timing plays a role too. The US iGaming market is expanding state by state, with gross gaming revenue expected to approach $15 billion this year across legal jurisdictions. Each new state that legalises online gambling creates a fresh set of operators competing for player deposits — and in a competitive market, payment options are a genuine differentiator. An operator in New Jersey or Michigan that offers crypto deposits can reach a segment of customers that competitors relying solely on bank transfers cannot.
The [dual-network stablecoin card platform](/news/nium-launches-first-dual-network-stablecoin-card-platform-spanning-visa-and-mastercard/) that Nium launched last week points to the same trend from a different angle: traditional payment infrastructure is being retrofitted to handle digital assets, not because the technology demands it but because customer behaviour does. The question for iGaming is whether crypto deposits become a standard feature or remain a niche add-on marketed to a vocal minority.
Paysafe's Pay with Crypto is available immediately to operators on the Paysafe Gateway across US-regulated markets.
