Roblox Teams Up With BitPay to Offer Ripple's XRP as a Payment Option for In-Game Purchases

 

Roblox Teams Up With BitPay To Offer Ripple's XRP As New Payment Option

Amid surging interest in cryptocurrencies within the gaming sector, Roblox (NYSE: RBLX) has broadened its payment methods for in-game purchases, now including Ripple’s XRP.

What's Happening:

Roblox, boasting over 200 million active users and 65.5 million daily active users, has incorporated Ripple (CRYPTO: XRP) as one of its payment options for in-game purchases, subscriptions, and transactions. BitPay, on its X account, officially announced this exciting development.

Xsolla, based in Los Angeles, serves as the platform for managing Roblox’s in-game payments, and BitPay is a leading cryptocurrency payment processor. The collaboration between these two companies aims to simplify the connection between Roblox and various cryptocurrency wallets, as reported by Cointelegraph.

This service is accessible on various platforms, including Windows, macOS, Android, iOS, Xbox One, and PlayStation 4.

In September 2023, both companies teamed up to introduce PayPal USD (PYUSD) payments for both merchants and consumers. In August 2023, Xsolla collaborated with Crypto.com, a cryptocurrency exchange and payment platform, to integrate Crypto.com's checkout solution into Xsolla's Pay Station platform. This integration simplifies payments in cryptocurrencies for gamers, as reported by Decrypt.

Why This Matters:

Roblox allows users to create and participate in games developed by their peers, primarily appealing to a younger audience, including children and teenagers. With 44% of its user base aged under 13, Roblox introduces a younger demographic to cryptocurrencies. Notably, in Q1 2023, Roblox users spent approximately $773 million on in-game purchases.

Ripple, known for its rapid transaction speeds and low fees, appeals to players looking for fast and cost-effective transactions using XRP. This partnership enhances the gaming experience. Ripple's global presence ensures that players worldwide can access XRP for in-game purchases.

Also worth mentioning, Benzinga's Future of Digital Assets conference is scheduled for November 14. Attend to learn more about the advantages of expanding in-house gaming payments to cryptocurrencies. This gathering is crucial for the digital assets community and will spotlight the latest trends, innovations, and challenges in the digital asset realm.