Rumble’s CEO, Chris Pavlovski, has confirmed that the video streaming platform will roll out its Bitcoin and stablecoin wallet in the third quarter of the year and will compete with Coinbase Wallet.
The Rumble Wallet will be developed in collaboration with the issuer of stablecoins, Tether, and will provide a unique solution for creators, especially in the international market.
According to Pavlovski, the Rumble Wallet wants to be the number one non-custodial Bitcoin and stablecoin wallet. Though he didn’t give out all the details, he suggested that the wallet may support Tether Gold (XAUT), which will be another means for creators to monetize their content more effectively than conventional advertisers.
Rumble was launched in 2013 as a substitute for YouTube and has since become a major player in the crypto space. In March, it announced a Tether USDT wallet for creators. Rumble’s $775 million investment from Tether in December 2024 only cemented its crypto aspirations.
As mobile crypto wallet adoption reaches a new peak of 36 million in Q4 2024, Rumble’s arrival in a crowded space where competitors include Coinbase, Robinhood, and PayPal is timely.
Apart from its crypto aspirations, Rumble reported impressive Q1 results. The platform reported $23.7 million in revenue, up 34% from last year. However, it still recorded a net loss of $2.7 million for the quarter, which was a giant improvement over last year’s $43 million loss.
Rumble’s stock (RUM) rose 2.37% after hours to $7.78, although it remains down 40% year-to-date. As Rumble continues to innovate, its crypto wallet and financial strategies could reshape its future in the digital space.
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