Cryptocurrency Payment Launched On Adult Entertainment Platform, SpankChain Author: Ali Raza Last Updated: 17 June 2020 Enabling crypto payments is one sure way of enabling the adoption of cryptocurrencies into mainstream use. As more services create payment processing platforms that take cryptocurrency, more people will see digital assets as an exploitable and viable form of currency. SpankChain and its partners have come together to launch a cryptocurrency payment processor. The Ethereum based adult entertainment platform announced the development on the 31st of July, 2019. Named SpankPay, the payment processing platform is being launched in collaboration with SpankChain’s two new integration partners. Adult entertainment fan platform JustFor.Fans and SkyPrivate, anonymity focused service that connects models and their clients via Skype and Discord are the two platforms through which SpankPay will be launched. Top cryptocurrencies accepted A number of cryptocurrencies including Bitcoin, Litecoin, Ethereum, Monero and Zcash, among others, will be accepted on SpankPay. The variety of accepted tokens means that the best cryptocurrency exchanges can make a variety of offers to their clients who use SpankPay. Digital assets will be accepted for instant transactions and 1 click transactions for the purchasing of adult products and entertainment. Merchants are offered a 0.5% processing fee to make use of SpankPay. SpankChain is focused on developing blockchain based economic and technological infrastructure in the adult entertainment industry. The company has already developed a campsite named SPANK.live. Clients who make use of SPANK.live will also be able to make payments using SpankPay. Importance of partnership Speaking on the partnership, JustFor.Fans creator Dominic Ford said that collaborating with SpankChain means that companies like his don’t have to worry about being shut down due to the fact that they are engaged in adult entertainment. He added that they would rather offer support to fellow adult entertainment solution providers than use outside solutions which may prove to be unfriendly to adult entertainment. SkyPrivate’s CEO, Alex Bluck, also shared similar sentiments as he said that the partnership with SpankChain ensures that all participants in the adult entertainment industry are accorded equal rights and payment for the services that they offer. SkyPrivate also operates a WhatsApp sexting service called OurLittleSecret and an adult models service e-commerce platform. The adult entertainment industry is a massive industry that has a huge following. Some of the people who engage in adult entertainment prefer discretion and cryptocurrencies offer this. Having a service that processes crypto payments will encourage more people to get Bitcoin wallets and pay for various services through these wallets. Needless to say, the creation of SpankPay will go a long way in bringing more individuals into crypto trading.