Cryptocurrency

SpankPay Adult Industry Crypto Payment Service Shuts Down

March 21, 2023

The adult-themed SpankPay payment service announced Monday that it would shut down after its upstream payment processor, Wyre Payments, terminated its agreement with the company. Wyre cited “violations of any third-party payment processor or network rules,” in February.

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

SpankPay asserted that its contract was singled out.

“This was a targeted shutdown by Wyre because their new payment processor, Checkout.com, doesn’t work with adult businesses,” the company tweeted. “This came as a shock, seeing as our relationship with Wyre had been supportive and respectful up until this point.”

Spankchain, an adult industry blockchain, launched SpankPay in August 2019 “as a safe haven for our community,” allowing fans to pay for adult content instantly and discreetly using Bitcoin, Ethereum, Litecoin, and…