The founder and CEO of OnlyFans, the social site whose user and revenue growth boomed thanks to X-rated content, said the company would “absolutely” welcome pornographic material back o…
“The change in policy, we had no choice — the short answer is banks,” Stokely said. Banks including JP Morgan Chase, Bank of New York Mellon and the U.K.’s Metro Bank “cite reputational risk and refuse our business,” he said.
“We pay over 1 million creators over $300 million every month, and making sure that these funds get to creators involves using the banking sector,” according to Stokely. Because several banks have cut off OnlyFans from making wire transfers, that has made it difficult to pay creators, he said. BNY Mellon, JP Morgan Chase and Metro Bank each declined to comment, per the FT.
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