Kontigo's CEO denied that JPMorgan closed his account due to compliance issues, claiming the dispute stemmed from their US partner, Checkbook.

Kontigo CEO Jesus A. Castillo responded to a report by *The Information*, stating that the claim that JPMorgan closed the company's account for "compliance reasons" was untrue, and criticized the report as inaccurate and defamatory. Castillo stated that Kontigo is a technology company based on self-custody, permissionless infrastructure, native stablecoins, and zero-knowledge proofs, and is not a licensed financial institution; its fiat currency channels rely on licensed partners in various regions. The alleged problem stemmed from its US virtual account partner, Checkbook, which had previously promised to provide accounts for global users (including Venezuelan immigrants), but subsequently terminated the partnership without prior notice and provided insufficient support.