Pornhub is Now Supporting USDT (Tether) Crypto Payments

News / 23.01.2020

Pornhub has announced the addition of two new payment options. One of the options is USDT. USDT is a cryptocurrency stablecoin and is the sixth-largest by market cap.

Two months ago, PayPal stopped supporting Pornhub due to issues concerning regulatory compliance, thereby cutting off the PayPal payroll of the models and actors on its website.

However, it appears that cryptocurrency has come in handy to support porn actors’ livelihood as USD-Tether payments have been added. PornHub wrote on Twitter:

USDT stablecoin has the greatest liquidity and is the largest stablecoin in the cryptocurrency domain.  It has an aggregate market cap of over $4.6 billion.

USDT is operating on five platforms: OMNI, ETHTRXEOS, and Liquid chain. Its portion on OMNI, ETH, and TRX are 32.9%, 48.7%, 19.4%, respectively, while it is not up to 1% on EOS and Liquid Chain.

A long time ago, nations banned banking services for the facilitation of porn websites as a means of countering human and drug trafficking. However, the industry continues to prosper with numerous sex workers in it.

The growth of stablecoin adoption outside cryptocurrency exchanges may be achieved by introducing stablecoin payments. Stablecoin payments do not include the volatility aspect of cryptos. At the moment, it is utilized as a means of hedging an individual’s value in FIAT on exchanges when trading cryptocurrencies.

 

Featured image courtesy of Pornhub via Twitter. Source: Cryptopress.

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Debasish Das is from India, an engineering graduate and holds a postgraduate degree in management. He has 10 years of experience in the financial sector, having worked for one of the biggest MNC banking groups in the country. Currently he has business in e-commerce, insurance and consultancy. As an avid blockchain and cryptocurrency enthusiasts he believes in investing in the future of technology, and feels this is going to make the world a single marketplace and also give the power from centralized banks and governments back to people.