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SpankChain launches SpankPay so users can pay for porn with Bitcoin

adult content cryptocurrency

Adult content platform SpankChain has launched SpankPay, a cryptocurrency payments platform.

As a result, customers will now be able to pay using several cryptocurrencies including Bitcoin, Ethereum, and Litecoin. The platform also accepts privacy-focused coins such as Zcash and Monero.

SpankPay is launching with two partners, which have already integrated the solution: SkyPrivate, Skype-based webcam service and JustFor.Fans, a blogging and market place for adult entertainers.

“With SpankPay, we are bringing immediate value to adult merchants by helping them accept crypto [sic], avoid chargebacks, and reach a global audience,” said Ameen Soleimani, SpankChain’s CEO.

SpankChain said in a blog post that its new service would charge a 0.5 percent transaction fee.

Today’s news comes after SpankChain suffered a cryptocurrency hack in October last year.

As previously reported by Hard Fork, the company temporarily took down its adult streaming platform after attackers exploited its smart contracts to steal $38,000 worth of Ethereum. The company then said it would organize an airdrop to reimburse affected users.

However, SpankChain is obviously not the first adult site to accept payment in cryptocurrency.

In fact, Pornhub announced a partnership with anonymous cryptocurrency Verge in April last year. Several months later, Pornhub told Hard Fork that cryptocurrencies accounted for “less than 1 percent of purchases made” on the platform.

Other companies have taken a far more, err, exciting approach. Webcam platform CamSoda launched an interactive platform that made sex toys vibrate when the price of Bitcoin, Litecoin, or Ethereum increased.

Published August 1, 2019 — 14:07 UTC