U.S. Bank Initiates Closure of Startup Accounts in Africa, Ukraine, and Other Regions
Mercury Bank is shutting down accounts for users in 37 countries, including 13 African nations. Startups from countries like Nigeria, South Africa, and Kenya will be unable to maintain or create new accounts with Mercury Bank.
How Homegrown Fintech Verto Aims To Fill Void Of Mercury Fallout In Africa
Mercury Bank's decision to shut down accounts linked to Nigeria and other countries highlights the vulnerabilities of relying on foreign banking systems in the African tech landscape. The incident has disrupted operations but could also create opportunities for local fintech companies to address the
Nigerian Founders Stranded As Startup Fave Mercury Pulls The Plug
Mercury Bank closes accounts linked to businesses in Nigeria and other countries, causing disruption in the local tech ecosystem. The closure of Mercury accounts will impact Nigerian startups heavily reliant on dollar funding and international operations.
