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BTCC / BTCC Square / Global Cryptocurrency /
JPMorgan Freezes Accounts of Stablecoin Startups Over Sanctions Risk

JPMorgan Freezes Accounts of Stablecoin Startups Over Sanctions Risk

Author:
Global Cryptocurrency
Published:
2025-12-28 12:29:01
10
1
BTCCSquare news:

JPMorgan Chase has frozen the bank accounts of two Y Combinator-backed stablecoin startups, BlindPay and Kontigo, after identifying potential links to Venezuela and other high-risk regions under U.S. sanctions. The startups, operating primarily in Latin America, accessed JPMorgan's services through digital payments firm Checkbook.

The bank emphasized the MOVE was compliance-driven, not a stance against stablecoins or blockchain ventures. JPMorgan continues to serve other stablecoin issuers, including facilitating a recent public listing for one such client.

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