Tim Stokely, the founder and CEO of OnlyFans has explained how banks had forced it to drop adult content from the subscription-based content platform. OnlyFans is a popular platform connecting online sex workers to subscribers, but the firm recently changed its policy to prohibit “sexually explicit conduct,” starting Oct. 1 — which has caused backlash from both creators and content connoisseurs alike. Speaking about the change of policy with the Financial Times on Aug. 24, Stokely noted that “we had no choice — the short answer is banks,” as he listed three banking giants who refused to provide services to …

An integration with payment processor OpenNode will allow content platform Substack to accept Bitcoin (BTC) payments on-chain and use the Lightning Network. In a Monday announcement, OpenNode said it had partnered with Substack “to make it easy for writers and publications to get paid in Bitcoin.” According to OpenNode and Substack, the integration will only be available to “a select group of crypto-focused publications” on the platform. The publishing platform, which allows writers to send their work directly to readers, has more than 500,000 paid subscribers, with the most popular writers reportedly earning more than six figures annually. The select …

Beginning this week, residents of the United Kingdom will be able to buy, hold and sell cryptocurrencies through PayPal for the first time — marking a significant milestone for a company that began offering digital asset services less than a year ago. The global payments provider announced Sunday that U.K. customers will soon have access to Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) through PayPal’s website and mobile app. The announcement marks the first expansion of PayPal’s cryptocurrency services beyond the United States — a service that first launched in November of last year. Jose Fernandez da …

United Wholesale Mortgage (UWM), the second-largest United States-based mortgage lender, is planning to accept cryptocurrency payments this year starting with Bitcoin (BTC). UWM CEO Mat Ishbia revealed the crypto plans on Monday in a conference call regarding the firm’s Q2 results — with the firm posting $138.7 million in net profits for the quarter. “We’re excited that hopefully (this year) we can actually execute on that before anyone in the country,” Ishbia said. “We are evaluating the feasibility and requirements in order to accept cryptocurrency to satisfy mortgage payments.” – @Mishbia15 — United Wholesale Mortgage (@UWMlending) August 16, 2021 Speaking …

The marketwide sell-off on May 19 triggered a 55% decline in the price of Bitcoin (BTC), and altcoins were hit even harder, with some tokens seeing declines of up to 90%. One project whose native token price appears to have bottomed out after an 87% decline from its all-time high is Verasity, an e-sports-focused blockchain protocol focused on increasing engagement and advertising revenues for video publishers. Data from Cointelegraph Markets Pro and TradingView shows that after declining from a high at $0.0558 on April 17 to a low of $0.0073 on July 20, the price of Verasity's VRA token has …

MobileCoin, a crypto-focused digital payment ecosystem, announced Wednesday that it has concluded a $66 million funding round as part of a wider effort to bring more of its products and services to market. The Series B had participation from several leading venture funds from within the blockchain and cryptocurrency industry, including Alameda Research, BlockTower Capital and Coinbase Ventures. Berggruen Holdings, General Catalyst, Vy Capital and TIME Ventures also participated. Several entrepreneurs and investors also contributed to the funding round. MobileCoin said the funding will be used to further develop its core crypto offerings, including MOBot, which is described as the …

North American retail giant Walmart is looking for an experienced crypto expert who can develop and drive an ambitious digital currency strategy and product roadmap. In the listing for the role, Walmart indicates it is looking for someone who has a track record in leading and scaling businesses, with at least 10 years of experience in product/program management and technology-based product commercialization. The ideal candidate should have expertise in cryptocurrencies and blockchain-related technologies and in-depth knowledge of the crypto ecosystem and its core actors. Walmart has hinted at the focus of its future digital currency strategy by noting that it …

Bitcoin (BTC) rewards company GoSats has launched a new cashback rewards card for customers in India, potentially setting the stage for wider mainstream adoption of digital assets in the world’s second-most populated country. The new product is being introduced in partnership with the National Payments Corporation of India, also known as NPCI, which is a not-for-profit organization dedicated to promoting digital payments and settlement systems across the country. The organization was founded in December 2008 and is an initiative of the Reserve Bank of India. The GoSats rewards card, which is accessible through mobile app and browser extension, allows users …

Singapore’s largest bank, DBS Bank, has expanded its scope of supported cryptocurrency services by scoring another regulatory approval. DBS Bank’s brokerage arm, DBS Vickers (DBSV), has received in-principle approval from the Monetary Authority of Singapore (MAS) to provide digital payment token services as a payment institution, the company officially announced Thursday. The approval is granted under Singapore’s Payment Services Act, paving the way for DBSV’s payment license. Once licensed, the firm will be able to directly support asset managers and companies trading in digital payment tokens through DBS Bank’s cryptocurrency-enabled exchange, DBS Digital Exchange (DDEx). In conjunction with the MAS …

San Francisco-based technology firm Metromile has used 10% of the funds it previously said would be allocated towards crypto to buy Bitcoin (BTC). According to Tuesday's filing from the United States Securities and Exchange Commission, or SEC, Metromile reported that it had purchased $1 million in Bitcoin in June. However, the firm recorded a loss of $100,000 in the original crypto buy, holding roughly $900,000 in Bitcoin as of June 30, or 25.6 BTC at the time. Metromile’s financial report for the second quarter of 2021 says the company held $202.6 million in cash and cash equivalents as of June …

Paypal-owned payments firm Venmo has launched a new crypto "cash back" feature that includes zero transactions on crypto purchases. According to the Tuesday announcement, Venmo’s “Cash Back to Crypto” service went live yesterday that enables credit card customers to spend their cash back rewards on digital assets hosted on the platform. Say hello to Cash Back to Crypto with the Venmo Credit Card, rolling out to eligible cardholders over the coming weeks. Learn more → https://t.co/zvQfMxIZl5 pic.twitter.com/wcroWuaapW — Venmo (@Venmo) August 10, 2021 Venmo offers its credit card holders between 1% and 3% cash back on select purchases, and the …

American cinema operator AMC Entertainment is aiming to accept Bitcoin (BTC) payments for movie tickets by 2022. Speaking during a Monday conference call regarding the firm’s Q2 results announced earlier the same day, AMC chairman and CEO Adam Aron revealed that the cinema chain intends to have the infrastructure ready to accept BTC payments for online movie tickets by the end of 2021. While details regarding AMC’s plan to accept Bitcoin are scant, Aron reported strong demand for buying movie tickets with crypto from the firm’s customers. AMC’s Q2 results showed significant improvements compared to last year, reporting $444 million …