JP Morgan freezes stablecoin startup accounts due to sanctions
JPMorgan Chase & Co. has reportedly frozen bank accounts associated with two venture-backed stablecoin startups after identifying exposure to sanctioned high-risk jurisdictions. The Information reports that the accounts belong to BlindPay and Kontigo, two Y Combinator-backed stablecoin startups that operate primarily across Latin America. Both companies accessed JPMorgan’s banking services through Checkbook, a digital payments…
