Popular adult content website, Pornhub has expanded its range of payment options to include the Tether (USDT) stablecoin, two months after being dropped by PayPal.
According to a blog post published on its website on January 23, Canadian adult video giant, Pornhub now allows its models to be paid in Tether (USDT) — one of the leading stablecoins pegged to the United States Dollar. This move is aimed at allowing instant and zero-fee payments across the board, especially since the USDT is by definition, fully backed by U.S. dollar cash and designed to maintain its value in the ever-volatile cryptocurrency market. Naturally, this already makes it a less risky form of payment.
The announcement comes as a welcome development among Pornhub’s models and performers following PayPal’s shock decision to block their payouts due to alleged payment permission violations back in November 2019.
“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,” according to Pornhub’s blogpost.
At the time, PayPal’s pullout was said to have affected more than 100,000 performers who relied on the online payment giant’s service “for their livelihoods.” Since then Pornhub has had to find other options for payouts, including direct deposits in some regions, bank checks and the Verge cryptocurrency, which incidentally saw a phenomenal rise in its price after PayPal’s announcement.
USDT Payments on Pornhub will be done through TRON
The announcement states that it is recommending the TRONlink wallet for its USDT payments. TRON has been a partner of the site since June 2018, when Pornhub started accepting its native token TRX, the 12th largest cryptocurrency by market cap, as payment for content.
Why TRON?
Well, the more relevant question is why not? Tron had initially partnered with Tether to launch the stablecoin on its blockchain in an effort to launch the dollar-pegged USDT stablecoin as a TRC-20 token. This technical standard is similar to and compatible with Ethereum’s ERC-20 standard.
Plus, TRON CEO, Justin Sun was even among the first to show support to the site and advocated for USDT payments when PayPal first announced the termination of its service partnership.
It would seem the adult entertainment website took those words to heart and has now opened up a new avenue for the greater adoption of cryptocurrency on a global scale.
Pornhub’s announcement also states that these USDT transactions “can be done globally within a few seconds and there are no fees”. They then proceeded with a step-by-step explanation of how to use the TRONLink wallet for their USDT transactions. The process involves downloading the TronLink wallet app, which is currently available both on Apple Store and Google Play.
Justin Sun also took it to Twitter and urged everyone on Pornhub to “stop what they were doing” so they could get intimated with the announcement.
In addition to USDT, Pornhub now supports a new payment processor known as Cosmo Payment.
