Key Facts
- ✓ Rumble has launched a new digital wallet built in partnership with Tether.
- ✓ The wallet enables direct peer-to-peer payments using Bitcoin, Tether’s USDT stablecoin, and Tether Gold (XAUt).
- ✓ The wallet is non-custodial, meaning users maintain control of their own digital assets.
- ✓ Tether holds nearly 104 million shares of Rumble, representing roughly 48% of the company.
- ✓ Shares of Rumble rose 3% following the announcement.
Quick Summary
Video-sharing platform Rumble has officially entered the cryptocurrency space with the launch of a new digital wallet. Built in partnership with stablecoin issuer Tether, the Rumble Wallet is designed to facilitate direct peer-to-peer payments for the platform's users and creators. The product aims to bypass traditional banking systems, offering a decentralized alternative for financial transactions within the Rumble ecosystem.
The wallet supports major cryptocurrencies including Bitcoin, Tether’s USDT stablecoin, and Tether Gold (XAUt). By enabling direct payments, Rumble seeks to empower creators by reducing transaction fees and mitigating the risks associated with traditional payment processors, such as account freezes and deplatforming. The launch represents a significant expansion of Rumble's monetization tools and aligns with its corporate positioning as a "freedom-first" technology platform.
Rumble Wallet Features and Functionality
The newly announced Rumble Wallet is a non-custodial digital wallet, which means users maintain full control and confirmation of their own digital assets rather than handing control to a centralized provider. The wallet is integrated directly into the Rumble video-sharing platform, allowing for seamless transactions without the need for external banking infrastructure.
Key features of the wallet include:
- Direct Peer-to-Peer Payments: Users can send and receive funds directly, bypassing intermediaries.
- Supported Assets: The wallet supports Bitcoin, Tether’s USDT, and Tether Gold (XAUt).
- Creator Monetization: Designed to allow audiences to financially support creators directly, reducing fees and payment restrictions.
The wallet was built using Tether’s Wallet Development Kit, a tool designed to help platforms integrate crypto payments directly into their products. This technical foundation ensures that the wallet is deeply integrated into Rumble's existing infrastructure.
"Rumble represents free speech and liberty the same way that cryptocurrency and a decentralized internet represent freedom, and Rumble Wallet is the natural combination of those things."
— Chris Pavlovski, Founder, Chairman and CEO of Rumble
Strategic Partnership and Leadership Vision
The collaboration between Rumble and Tether is rooted in a shared vision of decentralization and free speech. Chris Pavlovski, Founder, Chairman, and CEO of Rumble, emphasized that the wallet is a natural extension of the company's mission. "Rumble represents free speech and liberty the same way that cryptocurrency and a decentralized internet represent freedom, and Rumble Wallet is the natural combination of those things," Pavlovski said in a statement. "We are putting more power into the hands of users and creators so they can engage with and financially support the content they like."
Paolo Ardoino, CEO of Tether, echoed these sentiments, highlighting the importance of user autonomy. "At Tether, we champion technologies that break boundaries and promote freedom, decentralization and the fundamental right to free expression," Ardoino stated. "Rumble Wallet brings those ideals together into one product that will give tens of millions of users more control than any platform has offered before, even in the United States."
The financial ties between the two companies are substantial. Disclosures indicate that Tether holds nearly 104 million shares of Rumble, representing approximately 48% of the company.
Market Integration and Financial Impact
To ensure smooth conversion between digital and traditional currencies, MoonPay will power the Rumble Wallet’s crypto on- and off-ramps. This integration allows users to seamlessly convert between digital assets and traditional payment methods such as credit cards, Apple Pay, PayPal, and Venmo.
Ivan Soto-Wright, CEO of MoonPay, commented on the broader implications of the launch. "Peer-to-peer payments powered by crypto are the future of the internet economy," Soto-Wright said. "Rumble is one of the first major platforms to adopt this model, giving creators the ability to get paid instantly in stablecoins or Bitcoin and easily move in and out of fiat."
The market reacted positively to the announcement. Following the news, shares of Rumble rose by 3%. This increase reflects investor optimism regarding the platform's expanding crypto strategy and its potential to enhance creator monetization tools.
"We are putting more power into the hands of users and creators so they can engage with and financially support the content they like."
— Chris Pavlovski, Founder, Chairman and CEO of Rumble
"At Tether, we champion technologies that break boundaries and promote freedom, decentralization and the fundamental right to free expression."
— Paolo Ardoino, CEO of Tether
"Rumble Wallet brings those ideals together into one product that will give tens of millions of users more control than any platform has offered before, even in the United States."
— Paolo Ardoino, CEO of Tether
"Peer-to-peer payments powered by crypto are the future of the internet economy."
— Ivan Soto-Wright, CEO of MoonPay
"Rumble is one of the first major platforms to adopt this model, giving creators the ability to get paid instantly in stablecoins or Bitcoin and easily move in and out of fiat."
— Ivan Soto-Wright, CEO of MoonPay
