Adult Entertainment Platform SpankChain Closes Crypto Payment Processor

SpankChain has closed its crypto payment processor, SpankPay, after losing its payment service provider Wyre in February due to "violations of any third-party payment processor or network rules." SpankPay was unable to find a new service provider after all attempts were rejected for being in the adult industry. SpankChain launched SpankPay in July 2019 as a payment solution for adult entertainers and merchants to accept cryptocurrencies for their services. Despite the shutdown, SpankChain assured users that their money is safe and would be returned as soon as possible that they will continue to invest in products that advance the adult industry.