Pornhub, the popular adult website, has updated its payment methods and has added Tether (USDT) as an option. Just months after PayPal stopped supporting the platform, the cryptocurrency world introduces a viable alternative.
The adult platform announced that it had added the most-widely used stablecoin Tether (USDT) as a new payment option. The report clarifies that USDT is backed by the U.S. dollar, “meaning one USDT token is equal to one U.S. dollar.” Furthermore, it adds that USDT transactions “can be done globally within a few seconds, and there are no fees.”
PornHub has also clarified that it would be using the USDT which is issued on TRON’s network. Hence, users can take advantage of cryptocurrency wallets that support TRON-based digital assets.
TRON’s Founder and CEO, Justin Sun, also offered his views on the subject, saying that this is a “brilliant way to support the victims of centralized payment platforms like PayPal.”
The announcement also indicates that PornHub is integrating Cosmo Payment as another payment option.
As Sun mentioned in his tweet, Pornhub’s need for alternative payment options came last year. At that point, the most widely-used payment service, PayPal, decided to stop supporting the adult platform.
Back then, the cryptocurrency community responded swiftly, suggesting that this is the opening that digital assets need to gain additional mass adoption by showcasing their benefits. Some of the most prominent proponents, including Sun and Binance’s CEO, Changpeng Zhao, outlined the opportunity.
It’s worth noting that Verge (XVG) and a few other cryptocurrencies already served as payment options at that time. However, all digital asset transfers reflected less than 1% of all transactions.
This might be changing soon with the most recent announcement from TRON and Tether. By using both, PornHub might indeed provide a sustainable alternative that can help the vast number of adult movie actors and website users.
This article was first published on: Jan 23, 2020