The porn industry is seen by many as a perfect fit for widespread cryptocurrency usage as it suffers from financial censorship far more than most businesses. When Paypal stopped servicing Pornhub models, the company hinted it might turn to digital currency as an alternative and now this has been accomplished with the Tether stablecoin USDT.
Also Read: Pornhub Suggests Crypto Payments After Paypal Censors Model Payouts
Pornhub Turns to Tether as Payment Method
Pornhub, part of the Canada, Montreal-headquartered online adult entertainment conglomerate Mindgeek, has announced that they have added three new payout methods for their models including USDT. “Since PayPal’s decision to stop payouts to thousands of Models two months ago, we’ve been hustling to start the new year on a good note and offer you more options to make things a little easier,” the company’s support team explained in a blog post.
The post explained the function of the stablecoin, to follow the price of the US dollar, and guided Pornhub models to download a Tron wallet to receive USDT payments. Tether’s USDT has been growing rapidly on the Tron network since the stablecoin expanded to the blockchain and TRC20 tethers made up almost 22% of the total supply of tokens as of the beginning of the year.
Justin Sun, the founder of Tron, stated on social media: “If you’re on Pornhub, stop what you’re doing. USDT is now an option for models on Pornhub! Pornhub is using USDT-TRON to support models seeking payment solutions. This is a brilliant way to support the victims of centralized payment platforms like Paypal.”
Besides this noble ambition, Sun seems to have a focus on expanding crypto payments in online video services as he also recently took control of live streaming platform Dlive. He said at the time “Think of how valuable live streaming content is already to centralized social media platforms who take ownership and advantage of their users’ hard work.”
If you’re on @Pornhub, stop what you’re doing. #USDT is now an option for models on Pornhub! Pornhub is using USDT-TRON to support models seeking payment solutions. This is a brilliant way to support the victims of centralized payment platforms like PayPal. #TRON #TRX https://t.co/qwpMf0LgmS
— Justin Sun (@justinsuntron) January 22, 2020
In November 2019, we reported that Paypal had blocked Pornhub payouts for the adult performers who use the site’s platform for a living. Back in 2018 Pornhub started to accept a few cryptocurrencies as payments from its users including verge, tron and horizen.
“Here at Pornhub, as one of the most viewed websites in the world with over 90 million daily visitors, it’s important that we continue to expand our crypto payment options to align with our community’s growing payment preferences. Decentralized payment systems have continued to grow in popularity, and cryptocurrency adoption is exploding across a broad economic spectrum. Today, cryptocurrencies are especially viable in the adult entertainment industry because they are privacy-centric and incorporate more anonymity tools than traditional tender,” Corey Price, VP of Pornhub, said at the time.
What do you think about Pornhub starting to pay its adult models using tether? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
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