Rumble Set to Launch Non-Custodial Bitcoin Wallet in Q3, Challenging Coinbase Dominance
In a move that could shake up the cryptocurrency wallet landscape, video-sharing platform Rumble is developing a non-custodial Bitcoin wallet, set to launch in the third quarter of this year. According to Rumble CEO Chris Pavlovski, the wallet will be designed specifically for creators, enabling them to store and manage their Bitcoin and stablecoin holdings in a secure and decentralized manner.
Speaking on May 9, Pavlovski revealed that the new wallet is being built in partnership with stablecoin issuer Tether, with the aim of rivaling leading platforms like Coinbase. As quoted in a recent report by CryptoSlate, Pavlovski stated: "Rumble Wallet, in partnership with Tether, will directly compete with Coinbase. Our goal is to become the most prominent non-custodial bitcoin and stablecoin wallet, powering the creator economy."
The Rumble wallet will focus on peer-to-peer crypto transactions, allowing fans to support content creators through direct payments such as tips, subscriptions, and other income streams. According to CryptoSlate, the initial version of the wallet will support Bitcoin and USDT, with Pavlovski suggesting that the wallet could also include support for Tether Gold (XAUT) in the future.
This latest development marks a significant expansion of Rumble’s presence in the digital asset space. Earlier this year, the company disclosed its first Bitcoin acquisition, although the purchase amount was not made public. Pavlovski suggested that this marks the beginning of a longer-term crypto investment strategy. In January, Rumble also secured a $775 million investment from Tether, giving the stablecoin issuer meaningful influence within the platform’s operations.
Despite these moves, Rumble’s stock has yet to reflect the optimism surrounding its crypto pivot. Over the last 24 hours, its RUM shares edged up just 2.4% to $7.78, while the broader picture shows a more than 40% decline since the start of the year. Nevertheless, with a crypto wallet rollout on the horizon, Rumble is betting big on blockchain to reshape how creators earn and interact with their audience.
As reported by CryptoSlate, Rumble’s foray into the crypto space is seen as a strategic move to empower creators and provide them with more control over their financial transactions. By launching a non-custodial wallet, Rumble aims to provide a secure and decentralized solution for creators to manage their crypto holdings, while also enabling them to monetize their content in new and innovative ways.
The partnership with Tether is also significant, as it brings additional credibility and expertise to the project. As noted by CryptoSlate, Tether is one of the largest and most established stablecoin issuers in the market, with a proven track record of providing secure and reliable stablecoin solutions.
In conclusion, Rumble’s upcoming launch of a non-custodial Bitcoin wallet is set to challenge the dominance of Coinbase and other leading crypto wallet providers. With its focus on creator empowerment and decentralized finance, Rumble is poised to make a significant impact in the crypto space. As reported by CryptoSlate, the company’s ambitious plans for its crypto wallet are certainly worth keeping an eye on in the coming months.
