Roblox Adds XRP as a Payment Option
The popular online gaming platform Roblox has partnered with cryptocurrency payments processor BitPay to add XRP, the native token of the XRP Ledger, as a new payment option. This update was shared by BitPay on Twitter and is made possible through a partnership with Xsolla, which handles in-game payments for Roblox. BitPay’s role is to connect with cryptocurrency wallets.
About Roblox
Roblox is an online game and game creation platform that was launched in 2006. It has experienced significant growth and now has over 200 million monthly active users, with 65.5 million daily active users. The platform is available on various gaming platforms, including Windows, macOS, Android, iOS, Xbox, and PlayStation.
Roblox’s Financial Performance
In its financial results for the second quarter of the year, the Roblox Corporation revealed that it generated $680.8 million in revenue, a 15% year-on-year growth. In-game purchases also increased by 22% year-on-year to reach $780.7 million. However, despite having an average of 13.5 million monthly unique payers, the company reported a net loss of $282.8 million.
Xsolla’s Efforts in Cryptocurrency Payments
Xsolla has been working on integrating cryptocurrency payments into its system for some time. Earlier this year, it partnered with Crypto.com to incorporate the exchange’s checkout solution into its payment platform. In August 2022, Xsolla collaborated with Coinchange Financial and TradeZing to develop a payment system using non-fungible tokens (NFTs).
The Partnership Between Xsolla and BitPay
The partnership between Xsolla and BitPay dates back to 2014 when they first started accepting Bitcoin payments. In September 2023, the collaboration expanded to include PayPal USD transactions for both merchants and consumers.
Hot Take: Roblox Embraces XRP as a Payment Method
Roblox’s integration of XRP as a payment option highlights the growing acceptance of cryptocurrencies in the gaming industry. With its massive user base, Roblox is providing millions of players with the opportunity to use XRP for in-game purchases. This move not only benefits Roblox users but also showcases the potential for cryptocurrencies to revolutionize online payments in various sectors.
By
By
By
By