Pornhub phases out USDT and adopts USDC as preferred stablecoin

Pornhub is transitioning its creator and model payments from Tether (USDT) to USD Coin (USDC). This change, announced by influencer Gracie Hartie, requires content creators to update their payment details by June 1 to avoid payment disruptions. Pornhub's decision is driven by USDC's full reserve backing and its compliance with the EU's Markets in Crypto-Assets (MiCA) framework, with Circle having secured an Electronic Money Institution license. This compliance positions USDC for seamless operation in the EU, unlike some alternatives that have faced delistings and legal issues. While USDC and Verge are now listed as supported crypto payout options, it remains unclear if USDT will be discontinued for Premium members, as Pornhub currently still accepts USDT on Ethereum and Tron, along with other cryptocurrencies. The platform's crypto adoption began as an experiment in 2018, but increased significantly after PayPal ended payouts to creators in late 2019, leading to the adoption of USDT. Further pressure came in December 2020 when Visa and Mastercard suspended processing, making crypto-based payments more crucial. Since 2021, Pornhub has expanded its crypto offerings to include major assets like Bitcoin, Ethereum, Litecoin, Dogecoin, and USDC.

(Source：Crypto Briefing)