Singapore-based Online Press Initium Media Accepts Membership Subscription in Crypto

Online press Initium media announced its digital media platform had accepted cryptocurrencies to pay for membership subscriptions.

In the official statement released recently, the digital media platform said the platform had joined the partnership with Coinbase Commerce which parent company is Coinbase, becoming the first Chinese language media agency to use a crypto retail payment platform for membership subscription.

Members can subscribe or extend their membership through various cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, DAI, USDC and Dogecoin. others digital crypto

“We received feedback from the readers concerning the privacy of transactions or the limitation of internet access; Initium Media hopes to provide and offer convenient, safe payment options to readers through the virtual cryptocurrency system,” the media said. “We continue to explore more payment methods and enhance product experience to our readers and audiences,” Initium Media added.

Initium Media celebrated its sixth anniversary in early August. The media was Hong Kong-based Chinese online press, mainly covering cross-strait regional news and specialising in data-driven and in-depth investigation coverages across Asia.

However, the digital press platform recently announced to relocate its base to Singapore from Hong Kong without acknowledging or denying their decisions subject to the recent geopolitical or Chinese national security-related legal challenges experienced in this former British colony city, but indicating the ranking of press freedom index in Hong Kong has dropped.

Virtual subscriptions are becoming popular

Apart from the Initium media, the New York-based online publishing platform Substack has announced on Monday, August 23, will start accepting Bitcoin as a payment method for its publication by pairing with Bitcoin payment processor company OpenNode. Over 500 thousand subscribers benefit from the payment system through its on-chain payment networks.

In April, TIME Magazine also allowed readers to buy its digital subscriptions with Bitcoin and 31 cryptocurrencies. TIME partnered with Crypto.com to facilitate the initiative.