Binance CEO Unveils BNB as the Latest Payment Method on Pornhub

News / 20.01.2021

In a lighthearted tweet shared on Jan 20, 2020, Binance CEO Changpeng “CZ” Zhao revealed that Pornhub would now start accepting Binance Coin (BNB) as one of its payment methods.

The move by Binance to partner with the adult content platform will expand the use cases of the BNB coin while introducing yet another crypto payment method for products offered by the Pronhub site.

The CEO played on the theme in a series of tweets, announcing the super offer that a 1-year premium subscription on Pornhub is equivalent to 2 BNB.

“More use cases. A friend told me it’s not very familiar,” CZ tweeted. He later jokingly added that he would be buying a year of premium porn subscription just for the cause.

The partnership is strategic for both startups, with Binance looking to expand its native token’s use cases and Pornhub increasingly turning to cryptocurrencies as payment options.

Visa and Mastercard recently severed ties with the popular adult entertainment site, banning the use of their credit and debit cards to purchase Pornhub premium subscriptions.

The payment giants withdrew their services, citing allegations from a New York Times article that accused Pornhub of posting unlawful content on their website.

Crypto Adoption Comes to The Adult Entertainment Industry

Pornhub has long faced traditional funding methods, with most mainstream payment processing companies, including PayPal, all cutting ties with the site in the past. These payment obstacles have forced the most popular adult website in the world to turn to crypto in an unprecedented way.

Although Pornhub was accepting the verge (XVG) crypto for user payments since 2018, the adult site has never directed clients to pay in digital assets like it is doing now. 

Pornhub’s only means of accepting payment for their premium service is currently crypto-assets such as Bitcoin, Bitcoin Cash, Litecoin, and Ethereum. 

The site also started accepting payments in USDT, a stablecoin linked to the US dollar, with plans to add other crypto assets such as TRX and horizen (ZEN) to the list.  

The adult platform has added support for several privacy coins, including Monero (XRM)and Zcash. Now that users have diverse and anonymous digital payment options on Pornhub, it remains questionable whether subscription purchases on the website will explode. 

The fact that cryptocurrencies are the only payment method on one of the most visited adult entertainment sites will massively boost mainstream adoption

CZ Explores Strategies To Expand BNB Use Cases 

At the end of last year, CZ, the CEO of the largest crypto exchange by market cap, asserted that his company was looking to expand the applications for BNB. 

The token currently uses cases in multiple sectors, ranging from gaming to cross-border remittances, with a growing and diverse community in the Binance ecosystem. 

Today’s collaboration with Pornhub marks the first 2021 realization for the new BNB use cases, which CZ described as “just simply exploring a little more.”

Meanwhile, Binance has just completed its largest BNB token burn to date, buying back over $165 million in coins.

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Kyle is a tech lover and a huge fan of Satoshi. He has a passion for cryptocurrency and the splendid technology behind it all - the blockchain. He could sound gullible, but he believes bitcoin will hit 100k before the next halving.