US EditionJPMorgan Shuts Down Banking Access for Y Combinator-Backed Stablecoin Startups
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JPMorgan Shuts Down Banking Access for Y Combinator-Backed Stablecoin Startups
Why Did JPMorgan Freeze These Stablecoin-Linked Accounts? JPMorgan Chase has frozen bank accounts connected to two venture-backed stablecoin startups after identifying exposure to sanctioned and high-risk jurisdictions, according to a report by The Information. The accounts belonged to BlindPay and Kontigo, both backed by Y Combinator and active across Latin America. Both companies accessed JPMorgan’s banking services indirectly through Checkboo…
JPMorgan freezes BlindPay and Kontigo accounts due to links with Venezuela while stablecoins play a key role in the country's economy. The JPMorgan article freezes the accounts of two stablecoins startups for risk of sanctions appeared first on Cointribune.
The account freeze demonstrates the bank's caution regarding regulatory risks within the United States. Read more
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