Klarna and Sofort Becoming Names to Know in Cryptocurrency Circles

The primary aim of Bitcoin when it was
first created was to replace all fiat currencies with the peer-to-peer payment
system supported by its blockchain. Since the release of the original
cryptocurrency, the original use of the digital coins has become somewhat
muddled amidst the interest in the ocean of cryptocurrencies as investment
opportunities.

While Bitcoin set out as a conqueror of
fiat currencies, the two are inexplicably intertwined at this stage of the
cryptocurrency industry’s development. Fiat and crypto are still being used
together to purchase amounts of one to make more of the other. This means that
fiat currency payment methods are still an integral part of the cryptocurrency
experience, with Klarna and Sofort – both a part of the Klarna Group – becoming
increasingly relevant in crypto circles.

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Founded in 2005 in Sweden, Klarna is a bank
that offers online payment solutions and has established an incredible amount
of influence in Europe and increasingly so in North America. In 2013, Klarna
made the major acquisition of the market leader of eWallets in Germany, Sofort,
to then stake out a massive share of the European eCommerce market. The massive
online payments company now provides solutions for 80 million consumers across 17
countries.

Klarna and Sofort are becoming go-to
payment methods online in many different nations, from being used for all forms
of eCommerce across Europe to being utilised by the big-name gaming platforms
in North America. As shown in the review of the Canadian iGaming platform 777, Sofort is deployed as an alternative
payment method. Due to the exchange and use of money being core to the
entertainment medium within iGaming, the use of Sofort by 777 is to credit the
company for their very high level of safety protocols.

It is for reasons like this that
cryptocurrency platforms, such as Bitcoin exchanges, are adopting the European
giant. As is the case in iGaming,…

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