JPMorgan freezes accounts of two stablecoin startups

JPMorgan has frozen the bank accounts of stablecoin startups BlindPay and Kontigo, The Information reported. Both companies operate in Latin America and accessed JPMorgan's banking services through the digital payments firm Checkbook. JPMorgan stated that the action was taken because the firms were involved in business activities related to U.S.-sanctioned Venezuela and other regions, clarifying that the decision was not a result of opposition to stablecoins themselves.