Nairobi, July 13 -- US-based digital payments company Hurupay has stopped processing cross-border money transfers and cryptocurrencies in the Kenyan market amid increased anti-money-laundering checks.

The tech company has notified Kenyan users that its US dollar-backed services are no longer available in the country, denying local freelancers and businesses access to overseas client payments, as well as payments from friends and family members abroad.

Hurupay provides individuals and businesses with virtual US dollar, euro and sterling bank accounts that can be used to receive payments easily, send money globally, or convert funds into cryptocurrencies such as stablecoins.

The withdrawal of services in Kenya comes months after global p...