Rumble Video Platform Collaborates with MoonPay to Expand Bitcoin Strategy with Rumble Wallet, Targeting Content Creator Community.
The video sharing platform Rumble has announced a strategic partnership with MoonPay to launch its own crypto asset wallet called Rumble Wallet, marking a new step in the company's blockchain integration strategy. This move comes after Rumble established a Bitcoin reserve and demonstrated a commitment to deeper expansion into the crypto asset ecosystem.
Using MoonPay's payment infrastructure, Rumble Wallet will allow users to buy, sell, and exchange crypto assets directly in the wallet. Rumble positions this product as a useful tool for content creators on a platform known for being friendly to conservative viewpoints.
Rumble's Founder and CEO Chris Pavlovski emphasized that Rumble Wallet will change the game for creators, with MoonPay being the perfect partner to realize that vision. He affirmed that the company is not just building a tool but building freedom, and hopes for partners who are equally passionate about empowerment.
Expanding Bitcoin and Blockchain Strategy
Rumble, a public company with stock ticker RUM, began its Bitcoin holding strategy late last year with a plan to use up to 20 million USD from its cash reserve to buy BTC. By early this year, the company had implemented the plan and added at least 17 million USD of BTC to its balance sheet, demonstrating a strong commitment to this digital asset.
In the future, Rumble will delve deeper into the blockchain infrastructure platform with the goal of revolutionizing how creators earn money and develop in a decentralized world. MoonPay's Founder and CEO Ivan Soto-Wright expressed excitement about partnering with Rumble, emphasizing that crypto assets represent financial freedom, similar to how Rumble represents freedom of speech.
As part of a broader collaboration, Otherlife, a MoonPay creative unit, will begin using Rumble Cloud for decentralized computing needs and object storage services. This demonstrates a deep partnership between the two companies beyond simply developing a crypto asset wallet.
The market reacted positively to this announcement, with Rumble's stock rising 3.56% to 9.47 USD. However, the stock remains down 27% YTD, reflecting the general challenges facing technology companies.
