TIME magazine has allowed its subscribers to make payments using their crypto assets. This move will be possible after its partnership with cryptp.com.
TIME Magazine has collaborated with crypto.com in a bid to start accepting payments in crypto. Crypto.com is a popular digital currency platform whose users will now use their crypto holdings to pay for their subscriptions to TIME Magazine. Users can now make a one-time payment for the 18-month digital subscription for the magazine.
To motivate its users to adopt this new payment option, TIME Magazine will issue 10% cashback to users who use crypto.com to make a purchase. TIME Magazine’s subscription goes for $49. However, this payment option is only available to users in Canada, and the U.S. Global access is expected to commence in July this year.
TIME Magazine leading in Crypto Adoption
A statement issued by the company’s president, Keith Grossman, stated that through its partnership with crypto.com, they would be a step ahead in embracing innovation. It will also help its growing community of subscribers to become part of the change. This magazine has at least 2.3 million subscribers who will now have access to an alternative payment method.
The chief technology officer for the magazine, Bharat Krish, stated that using cryptocurrencies in payments would boost the company’s digital transformation. It will also show how the company embraces technology to create innovative products and services for its community.
TIME Magazine has been very adaptive towards crypto. Recently, the company collaborated with Grayscale and accepted payments in Bitcoin. It also stated that for the first time, the firm would hold Bitcoin in its balance sheet. The magazine also offered three nonfungible token covers on their design titled ‘Is God Dead?’
Crypto.com paving the way for crypto payments
Crypto.com is one of the leading platforms enabling payments using digital currencies. Users on this platform even benefit from incredible discounts by using the native CRO token. Besides, the firm issued cash backs to users who recharge their Visa cards using the CRO token.
Crypto adoption has been rising, and TIME Magazine is among the leading publications heading this adoption. Many institutions are now accepting Bitcoin and other cryptocurrencies as a form of payment. This adoption has positively impacted cryptocurrencies’ value, and traditional investors are now changing their stand on the crypto market. Besides, cryptocurrency adoption also gives investors a way to derive value from their crypto holdings.