Fin lands $17M for stablecoin payments app built by ex-Citadel team: Report

Fin, a stablecoin-powered payments app founded by former Citadel engineers Ian Krotinsky and Aashiq Dheeraj, has raised $17 million in a funding round backed by Pantera Capital, Sequoia, and Samsung Next. Previously known as TipLink, Fin is designed for high-value, cross-border transactions, aiming to offer lower costs and faster transfers than traditional wire services. The app will allow users to send funds to bank accounts, other payment apps, and crypto wallets, generating revenue through transaction fees and interest on stablecoin balances. Fin plans to pilot the app within the next month, focusing on import-export businesses. This development occurs as major financial institutions like JPMorgan Chase, Citigroup, Western Union, and Visa are increasingly integrating stablecoins into their payment and settlement systems.

(Source：Cointelegraph)