As more people begin to step into the crypto world, companies are also integrating the use of cryptocurrencies in their businesses.
TIME Magazine has disclosed its plan to join the list of companies that accept crypto payments. They have achieved this milestone as a result of their partnership with Crypto.com. This way, customers can make payments for their services using crypto funds.
TIME Magazine was founded in 1923, and they currently have over 20 million followers. They provide their subscribers with detailed exposure to current affairs, business, politics, health, science, and entertainment on a weekly basis. Crypto.com is a platform that allows users to make cryptocurrency exchanges with their local currencies.
Currently, all subscribers based in the USA and Canada can pay for their TIME magazine subscriptions using crypto assets. Unfortunately, subscribers outside these two countries cannot pay with cryptocurrencies yet, but they have a plan to extend this service to all countries.
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To encourage crypto payments, subscribers that pay using Crypto.com’s cryptocurrency CRO will enjoy a 10% discount on their subscriptions.
President of TIME Magazine, Keith Grossman, has expressed his satisfaction with the partnership. He said it is in line with TIME Magazine’s culture of staying devoted to innovation and keeping up with advances that come with time.
The CTO of TIME Magazine, Bharat Krish also said that the partnership would bring progressive features to their services. The plan to enable this feature for all global subscribers is currently in place. Crypto.com’s CEO and founder, Kris Marszalek, said he is pleased with the partnership as this will enable them to offer their services to users of TIME Magazine.
Benefits of Crypto-Enabled Payments
The major benefit may be the ease of subscribers who own crypto wallets as they can make payments directly from their crypto wallets, but there are some ripple effects.
This will go a long way in encouraging global acceptance of cryptocurrencies as not just a form of investment but also as a means of payment. Crypto coins may have their drawbacks, but it does not negate the fact that they can serve monetary functions.
The partnership between Crypto.com and TIME Magazine is an indication that more prominent firms with a global client base will adopt cryptocurrency.
