TIME magazine enables cryptocurrency payments
Major American news magazine and website TIME is making it possible for its readers to pay for digital subscriptions with cryptocurrencies.
In an announcement made on Monday, the media giant said it had partnered with digital asset exchange Crypto.com for the initiative. With immediate effect, subscribers will be able to pay with crypto for a one-time purchase of 18 months of unlimited access to all content on Time.com. This is inclusive of “subscriber-only events and offerings.”
Introducing a new way to pay. Get 18 months of unlimited digital access to TIME when you pay with crypto.
https://t.co/K5jTdvo7AQ
Powered by @cryptocom pic.twitter.com/OjP8zbw1Pc
— TIME (@TIME) April 19, 2021
https://platform.twitter.com/widgets.js
Keith Grossman, president of TIME, confirmed the news:
“As TIME continues to innovate and find new ways to build upon our existing community of 2.3 million subscribers, we are proud to offer this new payment option through our partnership with Crypto.com,”
Cashback
Users who pay for their subscriptions with Crypto.org’s ‘native’ Coin (CRO) will receive up to 10% back in CRO as part of the “Pay Rewards” program.
Kris Marszalek, co-founder and CEO of Crypto.com, commented on the collaboration:
“We feel very fortunate to partner with TIME. Our mission is to accelerate the world’s transition to cryptocurrency and together with TIME we’ve just taken a major step forward towards reaching our goal,”
The new crypto payment option will at first only be available in the US and Canada. Global expansion of the project will follow “in the next several months.” TIME also said they have no intentions of converting the earnings into fiat currency.
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