Pornhub, an adult entertainment giant, has accepted cryptocurrency Verge (XVG) for its around 120 million daily visitors. Payment providers Visa and MasterCard are no longer servicing its payments.
It has been reported that the companies say that the reason is questions that remain over Pornhub’s handling of illegal content. For MasterCard, the block is permanent, while Visa will continue to monitor its decision.
Pornhub stated:
“The allegations were irresponsible and flagrantly untrue. This news is crushing for the hundreds of thousands of models who rely on our platform for their livelihoods.”
Visa and MasterCard follow PayPal in shunning the world’s biggest porn site, which is now forced to lean exclusively on cryptocurrency payments.
Mastercard, Visa Stop Payments to Bitcoin-Friendly Pornhub https://t.co/C27fGlFg9p #xvg #verge #vergepay This is important!!! — Verge Believer (@Vergebeliever) December 11, 2020
However, Verge moved forward and is now the 97th largest cryptocurrency, with a total market cap of $112 million.
Responding to Pornhub’s troubles, Mark Wittenberg of the Verge Core Marketing Team appealed to stranded models to consider cryptocurrency.
He tweeted:
“Our #1 focus at @vergecurrency $XVG is to be a #currency. It is our position to be used as one. If any models at @Pornhub need assistance in getting familiar with payment options, its our role as a #worldwide #community. to help out. We should be embracing #decentralized payments.”
Likewise, Pornhub is also accepting Bitcoin (BTC) and Litecoin (LTC), while also allowing models to cash out in a small number of other altcoins, Verge’s appeal may remain limited.
Looks like #verge reacted to the pornhub/visa situation https://t.co/rj563ZijW1 pic.twitter.com/7sf71cTZbq — The Dark 🇮🇪 (VergeFaithful) #xvg (@DaveDurran1) December 11, 2020
It has been analyzed that a payment gateway has already been found for Pornhub’s workers.
Thus, NOWPayments confirmed:
“We would be happy to help as a #decentralized payment option!”
Source: Cointelegraph