According to DeepFlow TechFlow, on December 3, Fortune reported that Fin (formerly TipLink), a global stablecoin payment app founded by former Citadel employees Ian Krotinsky and Aashiq Dheeraj, announced the completion of a $17 million funding round led by Pantera Capital, with participation from Sequoia and Samsung Next.
Fin aims to build a stablecoin-based cross-border payment solution focused on handling large transfers ranging from hundreds of thousands to millions of dollars. The app offers three main features: transfers between users, bank account transfers, and crypto wallet transfers. Leveraging stablecoin rails, Fin promises lower fees and faster transfer speeds compared to traditional banks.
The app has not been officially launched yet and plans to begin pilot cooperation with import and export trading companies next month. The company will generate revenue through transaction fees and interest income from stablecoin wallets. CEO Krotinsky stated that Fin’s main competitors are large commercial banks such as JPMorgan Chase and Barclays, which provide international remittance services, and the goal is to become one of the world’s largest payment apps.
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