Rumble Will Launch Bitcoin and Stablecoin Wallet to Compete with Coinbase

Rumble, the video streaming platform, is set to launch its own cryptocurrency wallet in the third quarter of the year, as confirmed by Rumble’s CEO, Chris Pavlovski.

This new offering will be developed in partnership with the issuer of stablecoins, Tether, and will see the service roll out a non-custodial bitcoin and stablecoin wallet that aims to compete with the likes of Coinbase.

What Is Known About The New Crypto Wallet?

Announced on the Benzinga Interview Series at NFT LA, Pavlovski revealed that the new crypto wallet will be a key focus for the company in the coming quarter.

The service is being developed in collaboration with Tether, and it will offer a unique solution for creators who are looking to monetize their content in a more efficient and effective way.

“We’re going to be launching a crypto wallet. We’re launching it with Tether, and it’s going to be a non-custodial bitcoin and stablecoin wallet. So we’ll be competing with Coinbase in that regard. It’s going to be the best non-custodial bitcoin and stablecoin wallet out there, and it’s going to be launching third quarter of this year.”

According to Pavlovski, the goal is to make the Rumble Wallet the number one non-custodial bitcoin and stablecoin wallet.

While he didn’t divulge all the details, he did hint that it may also support Tether Gold (XAUT), which will be another means for creators to monetize their content more effectively than conventional advertisers.

This new initiative is part of a broader effort by Rumble to expand its presence in the cryptocurrency market.

Earlier this year, the company announced that it would be launching a Tether USDT wallet for creators.

The partnership with Tether was forged in December 2024, when the latter invested $775 million in Rumble, a move that signaled both companies’ strong ambitions in the evolving digital landscape.

As mobile crypto wallet adoption reached a new peak of 36 million in Q4 2024, the arrival of Rumble’s offering in a crowded space where competitors include Coinbase, Robinhood and PayPal is timely.

It is still early days to determine the true impact of this venture.

Apart from its crypto aspirations, Rumble also 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 huge improvement over last year’s $43 million loss.

Despite the promising revenue growth, Rumble’s stock (NYSE: RUM) dipped by 0.8% to trade at $7.53 on Monday.

However, it rebounded in after-hours trading, notching up a gain of 2.37% to reach $7.78. Nonetheless, RUM remains in the red for the year, with year-to-date losses amounting to 40%.

As Rumble continues to innovate and expand its offerings, its crypto wallet and financial strategies could play a pivotal role in shaping the future of the company in the rapidly changing digital space.