LOS ANGELES—The Free Speech Coalition, the national trade association for the adult industry, on Monday announced that intimate.io, an innovator launching a stable cryptocurrency for the adult industry, has joined the organization at the Platinum level.
“We know the discrimination adult businesses face from traditional banking institutions, as well as the hesitation many of our consumers have about making payments to adult sites,” said Eric Paul Leue, FSC’s executive director. “While I’m glad to have intimate.io support our mission to defend the adult industry, I’m even happier to have them and their expertise in blockchain tech as a resource for the members of our coalition.”
London-based intimate.io began their initial token sale on April 26, and after clearing a softcap of $5M USD, is working toward a hard cap of $16.85M. The company has already secured relationships with major adult companies interested in using the currency to facilitate transactions in camming, content, ecommerce and dating with partners such as Badoink, ClubX, MojoHost, Paul Raymond Publications and Lucas Entertainment.
Intimate.io’s token sale which ends June 7, has received coverage in Forbes, Bloomberg, TechCrunch, VentureBeat and the International Business Times, among others.
The blockchain-based tech will allow consumers privacy in their transactions, eliminating tell-tale credit card statements and reducing the risk of public exposure through hacks. For adult businesses, intimate reduced dependence on traditional banking, while eliminating chargebacks. In addition to the payments via intimate.io, the blockchain also has added decentralized trust and reputation system which makes any physical interaction such as dating, swinging or BDSM a far safer prospect in the future.
“Our industry needs alternative sources for payments and banking,” said Reuben Coppa, founder of intimate.io. “In recent years, traditional institutions have become de facto regulators of adult content, closing accounts of performers and producers with often no recourse. We want to bring stability and privacy back to adult transactions, using blockchain technology."