(The Post Millennial) – On Tuesday, video platform Rumble announced that it has invested in an independent payment processing company, taking a stake in Parallel Economy.
“Rumble’s investment in Parallel Economy furthers the company’s mission to build the rails and independent infrastructure for a digital economy immune from cancel culture,” Rumble announced in a press release Tuesday.
Parallel Economy, founded by Fox News host Dan Bongino and early Bitcoin adopter and angel investor Jeffrey Wernick in 2021, states on its website that it a “censor-resistant ecosystem.” Rumble similarly is billed as a pro-free speech forum and had dropped censorship-happy companies in mid-December.
In exchange for a stake in the company, Rumble announced that it will make Parallel Economy its “preferred payment processor and encourage all creators and users on the Rumble and Locals platforms to use Parallel Economy.”
“Our mission is to eliminate every chokepoint and backdoor to cancel companies like Rumble and our creators,” said Rumble CEO Chris Pavlovski. “This investment in a digital payment processing system is another example of Rumble’s commitment to put creators first. With Parallel Economy, creators won’t have to worry about arbitrary cancellation. Giving creators financial security is a critical part of Rumble’s mission to protect a free and open Internet.”
“Partnering with Rumble allows Parallel Economy to continue building the infrastructure we need for an economy free from discrimination,” said Bongino. “We won’t decide who gets access and who doesn’t based on constantly shifting standards. Instead, our new economy is built on freedom. A payment processing platform is an important step toward achieving true independence.”
“We make no claim that to place ourselves above others, standing in judgment and deciding whether their ideas or commerce deserve access,” stated Wernick. “Parallel Economy is a network of peers in support of each other to facilitate the voluntary exchange as seamlessly and frictionless as possible. We believe that the solution to society’s problems is commerce and conversation, not cancel culture.”