Renowned online gaming platform, Roblox, that boasts over 200 million in monthly active users, has introduced XRP as a new payment method.
This groundbreaking integration was announced by BitPay on October 17th via social media platform X (formerly Twitter).
Roblox Embraces XRP
Roblox’s decision to accept XRP as a payment option is poised to further bridge the gap between the gaming and cryptocurrency worlds.
The integration is made possible through the partnership of two key players, Xsolla and BitPay.
Xsolla is a global video game startup that is responsible for managing in-game payments within the Roblox ecosystem, while BitPay serves as the facilitating partner to ensure a seamless connection with cryptocurrency wallets.
Roblox’s extensive reach spans across various platforms, including Windows, macOS, Android, iOS, Xbox, and PlayStation. The platform boasts a daily active user base of 65.5 million, with a noteworthy statistic that nearly 44% of these users are under the age of 13.
Financial Impact and User Spending
The move to accept XRP as a payment method is not only a nod to the growing influence of cryptocurrencies but also a smart business decision.
In the first quarter of 2023, Roblox users spent close to $773 million on in-game purchases, underscoring the platform’s revenue-generating potential.
This integration promises to open up new avenues for in-game transactions, offering users a seamless and efficient way to acquire virtual goods and enhance their gaming experiences.
About Xsolla and Their Crypto Integration Efforts
Xsolla is a long-standing player in the gaming industry since its establishment in 2005, and has been proactive in its efforts to incorporate cryptocurrencies into its payment ecosystem.
In August 2022, Xsolla collaborated with Coinchange Financial and TradeZing to develop a nonfungible tokens (NFTs) payment solution.
Additionally, in August 2023, Xsolla took another major stride by teaming up with Crypto.com to integrate the latter’s checkout solution into Xsolla’s Pay Station platform.
Long-Standing Partnership Between Xsolla and BitPay
The collaboration between Xsolla and BitPay has a history dating back to 2014 when they first started accepting payments in Bitcoin (BTC).
Over the years, this partnership has evolved, with Xsolla continuing to accept various cryptocurrencies supported by BitPay.
Notably, in September 2023, BitPay announced that Xsolla would be among the first merchants to accept PayPal USD (PYUSD) for online transactions, offering even more payment options to users and merchants.
In conclusion, Roblox’s decision to integrate XRP as a payment method is not only a testament to the growing influence of cryptocurrencies but also a strategic move to enhance user experiences and tap into the vast potential of digital currency in the gaming industry.
The partnership between Xsolla, BitPay, and other key players continues to push the boundaries of crypto adoption in the gaming world, making it easier and more convenient for gamers to access virtual goods and services.