Australia's Club X Adds Cryptocurrency

Australia's Club X Adds Cryptocurrency

LOS ANGELES — Australian blockchain startup intimate has partnered with Australia’s largest adult retail chain Club X to give customers more options in accessing products and services through cryptocurrency.

According to the company, the move is the first time an Australian adult-only business has pioneered a new form of cryptocurrency.

“Adults-only businesses such as Club X have always been at the forefront of new and emerging technologies,” says spokesperson Rachel Payne. “It just makes sense that cryptocurrency would become a reality for the industry.”

intimate tokens went on sale internationally on April 26 in response to the inherent issues experienced by Australian adults-only businesses, including discrimination from banks and payment gateways. The tokens are available for purchase for a limited time, with six days remaining in the sale period.

The progressive partnership between intimate and Club X provides customers with a payment option that is safe, ensures privacy and accountability through a verifiable and immutable payment option.

“Discrimination from banks and payment gateways towards adults-only businesses is rife in this industry, so giving both customers and businesses an alternative is well received,” Payne adds. “We have to remember that these are legal businesses, and adults want access to adult products. If banks are going to make it difficult for customers to pay via traditional payment options, they will seek out alternatives”.

Late last year, the Eros Association, Australia’s adult industry body, produced a report detailing industry-wide discrimination faced by adults-only businesses from banks and payment gateways such as PayPal. Small Business and Enterprise Ombudsman Kate Carnell also criticized the big four banks regressive banking policies, saying that banks shouldn’t be the moral compass on legal tax-paying businesses.

Altogether, “cryptocurrency just makes sense for the adult industry,” Payne concludes.

intimate tokens can be obtained here.