Cryptocurrency payment platform SpankPay has been shut down following a split with major partner payments infrastructure company Wyre. Through its official Twitter account , the team behind the platform announced that Wire is looking to pull out of the partnership.
As in the past, prostitutes in the United States face discrimination from banking institutions. In this case, SpankPay claimed that payment processor Checkout dot com refused to work with the mature industry.
SpankPay is part of the SpankChain ecosystem, a suite of blockchain-based solutions for prostitutes. The crypto payment platform offers mature visitors an alternative to receiving payments with digital assets, while also providing conversion to fiat currency. According to the team behind the project:
Is Cryptocurrency the Solution for Prostitutes?
On January 6, 2023, the crypto payment platform halted fiat payments “indefinitely”. In this case, when Wyre’s crypto futures were hacked, the project was forced to terminate the transaction; corporate sustainability charter.
Trading resumed, but the company halted it because Wyre “deliberately” closed accounts for SpankChain products. With today’s announcement, this complicated relationship will end in an instant.
As reported by Vice, products SpankChain wrote in February when Wyre decided to receive payments from them:
For many in the mature industry, cryptocurrency is the only way to receive payments. Delegates documented the case of prostitute and SpankPay consultant Ellie Eva Knox, who was removed from all major payment platforms in the United States, including PayPal, Square, CashApp, Venmo, and others. other platform.
Bitcoin and other cryptocurrencies are the only way for people like Knox to pay their bills. Deputy sex workers: