JPMorgan Blocks Stablecoin Startups Over Sanctions Risks

The post JPMorgan Blocks Stablecoin Startups Over Sanctions Risks appeared first on Coinpedia Fintech News

JPMorgan has frozen accounts of stablecoin startups Blindpay and Kontigo, both backed by Y Combinator, after spotting suspicious activity linked to high-risk regions like Venezuela. The firms, which processed payments through Checkbook, reportedly saw rising chargebacks and weak identity checks. JPMorgan said the move was a compliance measure tied to sanctions rules, not a ban on all crypto clients. Both startups were growing fast in Latin America’s digital payment sector before the freeze.