Time Inc. will become the “first major magazine publisher” to accept the online cryptocurrency bitcoin, the company announced Tuesday.
The magazine company will partner with Coinbase, a company that facilitates bitcoin transactions by offering users a virtual “wallet” to store their digital currency. On its website, Coinbase touts 1.8 million users and 37,000 merchants.
Bitcoin users will now be able to purchase Fortune, Health, This Old House and Travel + Leisure, according to the release:
“We are always looking for ways to make it easier for consumers to engage with our brands and this pilot program will give bitcoin users a seamless and simple way to purchase subscriptions,” said Lynne Biggar, Executive Vice President, Consumer Marketing + Revenue, Time Inc. “We hope to expand our partnership with Coinbase in the coming months to create more opportunities to provide greater value to our customers.”