reply on: Mercury restricted a number of accounts linked to African startups and didn’t exactly say why

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0 sats \ 7 replies \ @KenyaCoin OP 3 Mar 2022 \ parent \ on: Mercury restricted a number of accounts linked to African startups and didn’t exactly say why | TechCrunch bitcoin

We were told that all the accounts that were blocked had “linked activity”, we are now in a holding pattern waiting for the official statement on what type of activity could have linked all of these companies asides the fact that they were all African.

As of the writing of this piece, I have not seen any public complaint on this by a startup without African founders.

0 sats \ 5 replies \ @KenyaCoin OP 3 Mar 2022

Day 3 of our bank accounts being arbitrarily blocked by @BankMercury. Not sure which is more surprising, that the issue hasn’t been sorted out or that the ecosystem is just going about their business like this isn’t a major issue.

0 sats \ 3 replies \ @KenyaCoin OP 3 Mar 2022

So what are the alternatives?

Our crypto fam have risen to the occasion to explain how using decentralized finance can solve for this. In the shorter term, some startups have shared that they can provide international banking services to African founders.

2.) Eversend is a one-stop financial services hub allowing Africans to exchange, save, manage and send money at the best possible rates, both online and offline.

https://mochievous.medium.com/on-mercury-restricting-accounts-of-african-startups-59189c143580

Eversend also permits buy and sell of bitcoin, stablecoins and other cryptocurrencies, in some of their regions (e.g., Uganda).

0 sats \ 1 reply \ @KenyaCoin OP 7 Mar 2022

Another article on the subject:

African startups had their bank accounts suspended. Russia sanctions might be to blame https://restofworld.org/2022/african-startups-had-their-bank-accounts-suspended-russia-sanctions-might-be-to-blame/