SpankPay crypto payment service shutters, citing 'hostile banking environment
SpankChain was forced to close its crypto payment processor after the hunt for a new adult-industry-friendly service provider yielded no results. Ethereum-based adult entertainment platform SpankChain is shuttering its crypto payment processor, SpankPay, after losing its payment service provider Wyre in February and failing to find a new one. In February, SpankPay revealed that its previous provider — crypto payment platform Wyre — had terminated its agreement to provide payment services to SpankPay, referring to "violations of any third-party payment processor or network rules." After a long and difficult consideration, we have decided to close down SpankPay, our crypto payment processor that we built as a safe haven for our community. Rest assured your money is safe and we’ll get it to you as soon as possible. — SpankPay (@SpankPay) March 20, 2023 In a March 20 post, SpankPay said this was a “targeted shutdown” by Wyre because their new payment processor “doesn’t wor...