Pornhub Adds Tether Stablecoin as New Crypto Payment Option

Published at: Jan. 23, 2020

Adult entertainment website Pornhub has added a new cryptocurrency payment option after PayPal had abruptly stopped servicing its models in late 2019.

According to a Jan. 23 blog post, Pornhub now supports Tether (USDT) — a major United States dollar-pegged stablecoin — to allow instant and zero-fee payments via the crypto wallet and browser extension TronLink.

Pornhub supports Tron-based USDT

TronLink is a native wallet for Tron (TRX), the 12th largest cryptocurrency by market cap that is backed by the Tron Foundation. The USDT token became available on the Tron network after Tether and the Tron Foundation partnered and released the first Tron-based USDT tokens in April 2019.

In order to start sending and accepting payments in Tether, Pornhub models download the TronLink wallet app that is available both on Apple Store and Google Play, Pornhub noted. Alongside Tether, Pornhub is also now supporting a new payment processor known as Cosmo Payment.

Tron CEO Justin Sun subsequently commented about the news on Twitter, saying that the new crypto payment option is a good way to support “victims of centralized payment platforms like PayPal.”

PayPal halted its service for Pornhub due to alleged payment permission violations

The news comes after PayPal, one of the world’s biggest online payment processors, halted its payment support for Pornhub models in mid-November 2019. According to reports, PayPal stopped doing business with the site because Pornhub purportedly made some payments without its permission.

Following the news, the crypto community made a push for major cryptocurrency Bitcoin (BTC) as a new payment option on Pornhub. Meanwhile, Pornhub models were reported to have a lack of general knowledge of cryptocurrency, with some models noting that they did not know what crypto is.

Porn pushing crypto adoption?

Pornhub has been gradually working on promoting crypto use on its platform. In August 2019, the adult entertainment streaming website partnered with cryptocurrency payment and billing startup PumaPay to enable user payments in crypto.

Back in 2018, the adult entertainment website partnered with cryptocurrency Verge (XVG) to accept the coin as payment for Pornhub Premium and all Pornhub purchases. As reported by Cointelegraph, Verge’s price skyrocketed just after PayPal’s decision to pull the plug on Pornhub in November.

Tags
Adoption
Altcoin
Cryptocurrencies
Fees
Paypal
Stablecoin
Payments
Wallet
Transactions
Tether
Porn
Justin Sun
Tron
Related Posts
Crypto protocol takes on big networks by offering fast, feeless transactions
A crypto protocol says that it delivers fast and feeless transactions that will boost blockchain adoption and open the door to micropayments. Stealth’s native cryptocurrency is based on a Bitcoin-type UTXO ledger that allows it to deliver multi-signature transactions, something that’s essential for custodial applications. The project aims to stand head and shoulders above what it describes as “hundreds of projects that fail to offer acceptable user experiences.” Presently, all of the major crypto networks suffer massive levels of congestion, hiking up costs for everyday users. Stealth aims to solve this problem with an efficient chain that improves Bitcoin’s throughput …
Adoption / July 29, 2021
Euro-pegged stablecoin at heart of DeFi protocol that’s taking on Tether
A crypto payments platform has undergone a rebrand — and has launched a new suite of easy-to-understand applications that are designed to deliver innovation in decentralized finance. Mimo is a new protocol that serves as a successor for TenX, which captured the imagination of early adopters by allowing them to complete crypto transactions anywhere using a card. Much of the foundational technology used to build TenX is now being implemented in Mimo, which aims to bring exciting new features to the DeFi space. At the center of its offering is Parallel (PAR), which has been billed as the first decentralized …
Decentralization / May 3, 2021
Why Binance, the World’s Biggest Crypto Exchange, Is Enthusiastic About Stablecoins
Binance has unveiled a series of new products and features relating to stablecoins — with the world’s largest cryptocurrency exchange describing these digital assets as “an efficient fiat gateway into crypto.” Stablecoins are often pegged with a fiat currency, meaning one unit can equate directly to 1 euro or $1. With new coins emerging all the time, the industry is evolving quickly, prompting the company to launch a stablecoin market in which its consumers can benefit from pairings with other cryptocurrencies. The crypto-only exchange now supports five stablecoins in total: Paxos Standard Token (PAX), TrueUSD (TUSD), USD Coin (USDC), StableUSD …
Adoption / April 2, 2019
Report: Stablecoins See Significant Growth in Adoption Over Recent Months
According to analysis by research firm Diar published Dec. 10, the adoption of stablecoins is growing based on the increasing number of on-chain transactions. Per Diar, four major stablecoins to date — USDC, True USD (TUSD), Paxos (PAX) and the Gemini dollar (GUSD) — have broken the $5 billion mark in on-chain transactions within the three-month period. November reportedly saw a massive 1,032 percent surge in on-chain transactions compared to September, when the stablecoin market breached the $2.3 billion mark at the end of last month. Diar notes that Paxos has recorded over $1.8 billion on the Ethereum (ETH) blockchain …
Adoption / Dec. 10, 2018
Robinhood board gives nod to buy Sam Bankman-Fried's $578M stake
Robinhood’s board of directors has approved a plan to buy back the $578 million stake in their company which was bought by former FTX CEO Sam Bankman-Fried and FTX co-founder Gary Wang last year. Robinhood confirmed it got board approval to buy back the stake in its fourth quarter report, which was published on Feb. 8. “Our Board authorized us to pursue purchasing most or all of our shares that Emergent Fidelity Technologies bought in May 2022," said Robinhood’s chief financial officer Jason Warnick, adding “The proposed share purchase underscores the confidence the Board of Directors and management team have …
Adoption / Feb. 9, 2023