PornHub is one of the largest porn sites on the net today, and they have just announced that they will begin accepting the crypto currency Verge for payments. Verge (XVG) is currently the 21st largest crypto currency by market cap, and has had quite a few ups and downs recently, as so many other coins have.
Verge is focused on being one of the coins with the most anonymity built in, which is obviously going to be an important feature for many of the customers of the pornography site. The coin is built using the Tor network as well as an anonymous network layer known as I2P, which hides any specific IP addresses or physical locations.
Corey Price, a VP at PornHub said, “We’ve been looking at crypto for quite some time.” And with this announcement they will become one of the larger companies to accept crypto of any type for normal transactions. Price went on to say, “overall adoption is relatively low, we think it has gained enough steam for us to penetrate the market.” (pun almost certainly intentional).
Verge is down about 1.5% since the announcement, likely due to the fact that the rumors leading up to the announcement were that it was going to be a relationship with a payment processor like PayPal or Square. Prices commonly dip on news after rising significantly on rumors, and this could be an example of this.
