JPMorgan has reportedly frozen accounts linked to Y Combinator–backed stablecoin startups BlindPay and Kontigo after flagging exposure to sanctioned jurisdictions.
JPMorgan Chase has reportedly frozen bank accounts linked to two Y Combinator–backed stablecoin startups after flagging business activity tied to sanctioned and high-risk jurisdictions.
The accounts belonged to BlindPay and Kontigo, two Latin America–focused firms that accessed JPMorgan’s banking services through digital payments provider Checkbook, according to a report by The Information.
Per the report, the freezes occurred after JPMorgan flagged business activity tied to Venezuela and other locations subject to US sanctions.
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