2025-12-03 15:48:44

Another group from traditional finance has jumped into Web3. A few former Citadel employees have launched a payments project called Fin (previously known as TipLink), which just secured $17 million in new funding. The round was led by Pantera Capital, with Sequoia and Samsung Ventures also participating.

What they’re doing is actually pretty straightforward—using stablecoins for cross-border transfers. Users can send money directly to bank accounts, crypto wallets, or other Fin users. This area is quite active right now; after all, traditional cross-border remittances are slow and expensive, and stablecoins really have a chance to break in.

But to be honest, the payments track is already crowded with lots of players. Having a traditional finance background is definitely a plus, but the real challenges are whether they can actually launch, how they handle compliance, and how they cultivate user habits. Getting funding is just the beginning; the real test is whether the product and operations can keep up.

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QuietlyStaking

· 17h ago

Another traditional finance person coming to fleece Web3 newbies, Pantera backing this is just outrageous. --- $17 million? How are they going to clear compliance? I have my doubts. --- The stablecoin payments track is definitely competitive, but the Citadel background does add some credibility. --- Product implementation is what really matters; fundraising is just on paper. --- TipLink rebranding to Fin is clearly an attempt at a turnaround. Whether it works is another question. --- There’s definitely demand for cross-border remittances, but user education is extremely challenging. --- Sequoia’s backing sounds impressive, but a lot of companies have died in the payments sector. --- Former Citadel people who start companies do seem to have ideas. Will it work this time? --- Stablecoin payments sound simple, but in practice, compliance is a huge headache. --- Getting funding is easy; actually building something real is rare.

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GateUser-e19e9c10

· 12-03 16:17

Another traditional finance giant is here to strike gold. $17 million in funding sounds impressive, but can a Citadel background conquer the world? The payment track is so competitive—compliance is the real bottleneck. Having a lot of funding doesn’t mean you’ll survive; just look at all the projects that have died in the past two years. Traditional remittance is indeed terrible, but can Fin really differentiate itself? I’m not too optimistic. Did Pantera make the right bet this time, or is it just another feast for the VCs? These payment projects always end up stuck on user habits. No matter how attractive stablecoins are, someone still has to use them. It’s easy to burn money and tell a story, but delivering a truly usable product is a whole different matter. What’s so special about being ex-Citadel? There are plenty of financial whales in this space; the key is whether they can actually break through moving forward.

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CodeAuditQueen

· 12-03 16:09

Another player is entering the stablecoin cross-border payments space, but no one can avoid the compliance hurdle. It’s easy to raise funds, but surviving is the real challenge.

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CryptoWageSlave

· 12-03 15:54

Citadel’s background is impressive, but the payments sector has long been a red ocean. Fundraising is just the ticket to enter. --- Compliance is probably even harder than fundraising. Let’s see how they handle it. --- I’ve been hearing about stablecoin cross-border transfers for years, but few actually use them. Product strength is the real life-or-death line. --- $17 million is a lot, but compared to something like PayPal, they’ll need to burn through money for years to catch up. Can they survive that long? --- It’s true they have a former Citadel team, but the problem is that regulatory attitudes toward Web3 differ greatly across countries. Who’s going to shoulder the compliance costs? --- Another big fundraising, another payments project—it’s a cyclical pattern, bro. --- Bank card deposits and withdrawals are the most critical. If they can’t get that to work, everything else is pointless. --- At the end of the day, it’s still a money game. Operations and customer acquisition are the real money burners.

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StablecoinSkeptic

· 12-03 15:51

Citadel’s background is indeed strong, but with such fierce competition in the payments space, can stablecoins really break through? --- Another funding news, but can they really overcome the compliance hurdle? --- $17 million sounds like a lot, but nailing the business model is what really matters. --- Traditional financial giants are throwing in money—let’s see how far they can go. --- Cross-border stablecoins are easy to talk about but hard to execute; user education is the real challenge. --- Both Sequoia and Samsung invested, that’s impressive, but can burning money really bring in users? --- Every payments project wants a slice of the remittance pie; the competition is already cutthroat. --- Funding rounds keep coming, but very few are actually profitable.

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