Tether and Rumble Unveil Self-Custodial Wallet for Crypto Payments

Tether and Rumble have introduced Rumble Wallet, a self-custodial cryptocurrency wallet directly integrated into Rumble's platform. This wallet enables users to tip creators and make direct payments using various cryptocurrencies, enhancing user autonomy and financial freedom.

Key Takeaways

Introduction of Rumble Wallet: A new self-custodial wallet on the Rumble platform for cryptocurrency transactions.
Supported Cryptocurrencies: Initially supports Tether USD (USDT), Tether Gold (XAUT), and Bitcoin, with plans to add more.
User Control: Users maintain complete control over their assets, reducing the risk of account freezes and delays.
Creator Monetization: Provides creators a new way to earn money globally and instantly.
Strategic Collaboration: The launch reflects a broader partnership aimed at empowering creators through crypto.

Tether and Rumble Wallet

Introduction of Rumble Wallet

Tether and Rumble (NASDAQ: RUM) have launched the Rumble Wallet, a self-custodial crypto wallet seamlessly integrated into the Rumble platform. This wallet represents a significant evolution from traditional crypto tipping, shifting toward a comprehensive, platform-native payment system that is designed for both creators and users on a large scale.

At its launch, the Rumble Wallet supports popular cryptocurrencies including Tether USD (USDT), Tether Gold (XAUT), and Bitcoin. This allows audiences to easily tip creators and execute peer-to-peer payments without depending on traditional banking systems or third-party payment processors. Upcoming support for Tether USAT is also anticipated in the near future.

Empowering Creators with Self-Custody

Rumble's objective is to enable creators to receive funds immediately while maintaining complete ownership of their assets. In contrast to custodial models where platforms or third parties manage user balances, the Rumble Wallet allows users direct control over their cryptocurrencies. This approach minimizes the risks associated with account freezes and payment delays.

For creators, the wallet introduces a new monetization mechanism that is active and available worldwide, 24/7. For users, it offers a convenient way to hold and transfer digital assets directly within the Rumble platform, eliminating the need to transfer funds in and out of external services.

Built on Open Wallet Infrastructure

The Rumble Wallet is developed using Tether’s Wallet Development Kit, an open-source modular toolkit aimed at assisting platforms in deploying self-custodial wallets while ensuring user privacy and control.

By connecting Rumble’s video-sharing ecosystem directly to crypto-native payment systems, the wallet facilitates financial transactions alongside the consumption of content.

According to Tether CEO Paolo Ardoino, this product merges decentralization, financial autonomy, and freedom of expression. He implies that integrating self-custodial crypto tools into a prominent platform grants tens of millions of users better control compared to what is typically available through social media and payment services, especially in the U.S. market.

Vision for Crypto-Native Monetization

The introduction of the wallet further solidifies the ongoing collaboration between Tether and Rumble, which focuses on using Bitcoin and stablecoins as effective tools for empowering creators.

This partnership was initially presented at the Plan ₿ Forum in Lugano last year, where the two companies shared their vision for crypto-native monetization that diminishes reliance on centralized financial intermediaries.

Rumble’s founder and CEO, Chris Pavlovski, stated that Rumble Wallet exemplifies the platform's commitment to fostering free expression and user autonomy, providing creators and their audiences with innovative ways to support content more directly.

Integrating Crypto into Everyday Platforms

The launch of Rumble Wallet is part of Tether’s broader initiative to embed open financial systems into consumer platforms that have a vast number of active users.

Rather than promoting cryptocurrency as a standalone product, this collaboration intends to weave self-custodial payments into everyday digital experiences, which has the potential to extend the reach of cryptocurrencies to millions of mainstream users.