Pornhub Partners With PumaPay to Enable Recurring Cryptocurrency Payments

  • Pornhub, the world's largest porn site, recently partnered with PumaPay, a blockchain-based payment solutions provider, to enable recurring payments.
  • The partnership will also see it add PumaPay's PMA token.

Pornhub, the world’s biggest porn site, has recently partnered with open source cryptocurrency payments solution provider PumaPay to enable recurring payments via cryptocurrency for its premium subscription.

According to a recently published video, the partnership will let Pornhub users pay for their subscriptions using cryptocurrency as if they were using a credit card - without worrying about sending over payments every month.

PumaPay is an open source blockchain-based solution developed by Cyprus-based company Decentralized Vision. According to reports its “PullPayment protocol” allows for transactions that “have never been possible on the blockchain” until its development. Besides recurring payments, these include pay-per-use transactions.

The company’s CEO Yoav Dror stated:

PumaPay's technological solution, the PullPayment protocol, reverses the mechanics of a transaction, enabling merchants to 'pull' crypto funds from their customers' account.

Yoav Dror

He added that thanks to the protocol, merchants can avoid the “drawbacks of the current baking system,” including high transaction costs, the lack of anonymity, and chargebacks. The partnership with Pornhub will also reportedly see the website accept PumaPay’s PMA token.

The feature, however, doesn’t seem to yet b integrated as at press time the only cryptocurrency payment options available are ZenCash (ZEN), Verge (XVG), and Tron (TRX). As CryptoGlobe covered, the first cryptocurrency the website accepted was XVG, after its community raised the equivalent of about $3 million to secure a partnership with the website’s owner MindGeek.

While at the time some claimed the partnership was exclusive, Pornhub later on expanded the number of cryptocurrencies it accepts, by adding TRX and ZEN as payment options. Notably, these two additions came shortly after reports suggested Tron founder Justin Sun was looking to acquire BitTorrent, an acquisition later on confirmed.

Pornhub is notably not the only website entering the cryptocurrency space. As recently covered a website named Tube8 revealed it was set to reward its users with crypto for watching its content. Users are set to be rewarded with Vice Industry Tokens (VIT), specifically created for the adult entertainment industry., another popular porn website, added Litecoin payments earlier this year using GoCoin as a payment processor, shortly after Verge announced its partnership with MindGeek.

Ripple CEO: 'You Don’t Want to Use BTC at Starbucks'

On Thursday (January 23), Brad Garlinghouse, the CEO of Ripple, told the Wallet Street Journal (WSJ) that Bitcoin is not a good means of payment because BTC transactions take too long.

The Ripple CEO's comments were made during his talk with Phillipa Leighton-Jones (Editorial Director for Innovation) at a Ripple-sponsored event (organized by the WSJ) called "Ripple Panel: Changing the Finance Industry From Within" held alongside this year's World Economic Forum Meeting in Davos, Switzerland.

Although we don't yet have a full transcript of this interview, we do know about two of the things he talked about thanks to tweets by Asheesh Birla, SVP of Product at Ripple, who was at this event.

First, it seems that although the Ripple CEO likes Bitcoin as a store of value, he does not see (at least, as of now) as a viable means of payment. The example he gave was paying for a cup of coffee at Starbucks. He believes that BTC transactions take so long to confirm that by the time you have finished paying for your coffee, "it'll be cold." 

Second, within the next 12 months, he sees several companies in the crypto space holding initial public offerings (IPOs) and he wants Ripple to be "on the leading side" since this is "a natural evolution" for Ripple, which raised $200 million via a Series C funding round (which valued the company at $10 billion) last month. 

On Wednesday (January 22), Ripple published the "Q4 2019 XRP Markets Report", which is a quarterly report that allows Ripple to "voluntarily provide transparency and regular updates on the company’s views on the state of the XRP market, including quarterly programmatic and institutional sales updates, relevant XRP-related announcements such as Xpring and RippleNet partnerships and commentary on previous quarter market developments." 

In Q4 2019, Ripple's total XRP sales were down just over 80% compared to the preceding quarter ($13.08 million vs. $66.24 million). Ripple "continued the pause of programmatic sales" (to crypto exchanges), and focused exclusively on over-the-counter (OTC) sales to "a few strategic partners, who are building XRP utility and liquidity in strategic regions including EMEA and Asia."

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