Roblox Teams Up With BitPay To Offer Ripple’s XRP As New Payment Option
By Benzinga
Amid the growing interest in cryptocurrencies in the gaming industry, Roblox (NYSE:RBLX) expanded its in-game purchases payment method to include Ripple’s XRP.
What Happened: With more than 200 million active users and 65.5 million daily active users, Roblox will now include Ripple (CRYPTO: XRP) as one of its payment methods for in-game purchases, subscriptions, and transactions. The news was announced by BitPay on its X account.
News Alert 📰@Xsolla now accepts XRP(@Ripple) with BitPay as a payment method for their games, such as @Smitegame and @Roblox. You can use your favorite cryptocurrency to buy, play, and enjoy gaming like never before.#BitPay #crypto #Smite #Xsolla #Roblox pic.twitter.com/NAg2EyOVGM
— BitPay (@BitPay) October 17, 2023
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Read Next: How Today's Gaming Industry Intertwines With Blockchain, Crypto, NFTs, Tokenization
Los Angeles-based Xsolla is the platform for managing Roblox’s in-game payments, while BitPay is a cryptocurrency payment processor. Both companies have collaborated to streamline the connection between Roblox and various crypto wallets, Cointelegraph reports.
The service will be available on Windows, macOS, Android, iOS, Xbox One, and PlayStation 4.
In September 2023, both companies joined hands to introduce PayPal USD (PYUSD) payments for merchants and consumers. In August 2023, Xsolla teamed up with Crypto.com, a cryptocurrency exchange and payment platform, to integrate the latter’s checkout solution into the former’s Pay Station platform, thereby making it easy for gamers to make payments in crypto, Decrypt reported.
Why It Matters: Roblox allows users to design and participate in games made by their peers, and it's particularly popular among children and teenagers. The user base of Roblox is 44% under 13 years of age, thereby exposing a younger target audience to cryptocurrency. Notably, In Q1 2023, Roblox users reported around $773 million in its in-game spending.
On the other hand, Ripple is best known for its fast transaction speeds and low fees, thereby attracting players to leverage the speed and cost-effectiveness of XRP and simultaneously enhance the gaming experience. The token also has a wide global presence and thus will be available to players across regions.
Benzinga's Future of Digital Assets conference is scheduled for Nov. 14. Attend and learn more about the benefits of widening the in-house gaming payments system to crypto. The gathering is seen as pivotal for the digital assets community. The event will spotlight the latest trends, innovations, and challenges in the digital asset realm.
