OnlyFans, the adults-only social network, has reversed a looming ban on “sexually explicit” content that made the site popular following uproar from both users and video creators.

The UK-based company, founded in 2016 by Tim Stokely, said last week it would ban pornographic and other explicit videos from October 1.

He blamed banks for the ban on explicit posts. OnlyFans proved a breakout lockdown success, reaching 130m users and 2m creators – many of them posting adult videos.

OnlyFans tweeted: “Thank you to everyone for making your voices heard. We have secured assurances necessary to support our diverse creator community and have suspended the planned October 1 policy change. OnlyFans stands for inclusion and we will continue to provide a home for all creators.”

The subscription site that charges at least $5 (£3.60) a month for exclusive videos and images from popular creators, suffered a backlash from users after announcing its policy change.

Thank you to everyone for making your voices heard.

We have secured assurances necessary to support our diverse creator community and have suspended the planned October 1 policy change.

OnlyFans stands for inclusion and we will continue to provide a home for all creators.

— OnlyFans (@OnlyFans) August 25, 2021

Many of OnlyFans’ most popular users are adult performers, some of whom have made tens of thousands of pounds a month from the site. More recently it has gained popularity with mainstream celebrities such as Cardi B and DJ Khalid as a way to interact with paying fans.

OnlyFans, which has been seeking a valuation in excess of $1bn, claims to have paid its creators more than $5bn.

It takes a 20pc cut on subscription revenues and turned over $2bn last year.

Despite its popularity with adult performers, OnlyFans said it would clamp down on sexually explicit content starting in October.

Mr Stokely told the Financial Times on Tuesday: “The change in policy, we had no choice – the short answer is banks.”

An OnlyFans spokesman did not immediately comment on the decision.