Three Titans Bet $17 Million, FIN Makes Strong Move into Cross-Border Payments
Original Title: "Pantera, Sequoia, Samsung Join Forces to Bet, Will FIN Take Over Traditional Banks' Territory?"
Original Author: KarenZ, Foresight News
In the current global financial system, large-scale cross-border transfers still suffer from the issues of "slow processing, high fees, and cumbersome procedures." A startup named FIN is leveraging stablecoins to tackle this pain point head-on, attempting to reshape the industry status quo.
Founded by two former Citadel employees, FIN is not playing small in the fringes but is building a large-value payment rail through stablecoin technology, aiming to provide enterprises and high-net-worth individuals with instant, efficient cross-border transfer experiences.
In early December 2025, FIN announced the completion of a $17 million financing round, led by Pantera Capital, with participation from Sequoia and Samsung Next. The capital endorsement highlights its runway potential.
So, what kind of product is FIN exactly? What is its background? How will it operate and land in the future? This article will take you on a journey to explore these questions.
FIN's Core Positioning
Many people's first impression of this team comes from its predecessor TipLink—a lightweight tool that supports the transmission of encrypted assets via URL links, supports the Solana network, and is feeless.
However, under the new name FIN, the goal has been elevated to be a "global payment app challenging traditional banks," focusing on meeting the multimillion-dollar large-value transfer needs of users and businesses, supporting transfers to other FIN users, direct deposits to bank accounts, or circulation through cryptocurrency channels in diverse scenarios.
FIN CEO Ian Krotinsky clearly stated in an interview with Fortune magazine that the company's core goal is to build the "future of payment apps": leveraging the technical advantages of stablecoins while stripping away their complex professional barriers, achieving barrier-free global use.
This positioning aligns well with the current trend in the stablecoin race.
Core Team: Quantitative Genes + Pain Point Drive
One of FIN's key competitive advantages lies in the hardcore background of its founding team.
· FIN Co-Founder and CEO Ian Krotinsky: Before founding the project in 2022, he served as a quantitative investment portfolio manager and trader at a top hedge fund Citadel from 2016 to 2022, and previously worked as a programmatic trader at Goldman Sachs.
· FIN Co-Founder and CTO Aashiq Dheeraj: Former Quantitative Researcher at Citadel Securities from 2018 to 2022.
According to Fortune magazine, the two worked together at Citadel and often used evenings and weekends to develop various hacking projects, including a Reddit-like platform where users would receive a $50 reward if their post made it to the front page. It was this experience that made them acutely aware of the inefficiency and high cost of traditional cross-border transfers, ultimately deciding to leverage blockchain technology to address this industry pain point.
According to the FIN website, the team members also have backgrounds from companies such as Google, Meta, Uber, and leading U.S. digital bank Chime.
Funding Journey
As early as February 2023, TipLink completed a $6 million seed round, led by Sequoia Capital and Multicoin Capital, with participants including Solana Ventures, Circle Ventures, and Paxos.
Close to 3 years later, on December 3, 2025, FIN announced the completion of a $17 million Series A funding round, led by Pantera Capital, with participation from Sequoia Capital (Sequoia Capital) and Samsung's investment arm Samsung Next. Several industry veterans, including Helius CEO Mert, Bridge CEO Zach Abrams from Stripe's stablecoin infrastructure company, Ellipsis Labs Co-Founder Jarry Xiao, and Tensor Co-Founder Richard Wu, joined as angel investors.
From TipLink to FIN: How Does the Project Work?
As mentioned earlier, FIN was formerly known as TipLink. TipLink is a lightweight wallet, with its key innovation being that the link itself serves as a non-custodial wallet, currently supporting only the Solana network and charging no fees.
TipLink has built a mature lightweight payment ecosystem:
· Regular users can log in via Web3 wallets or Google accounts, create a TipLink, share it via any platform such as SMS, Discord, or email, and recipients can activate the wallet automatically by logging in with Gmail, enabling asset holding, transfer, or redistribution;
· Enterprise-grade product TipLink Pro supports the distribution of tokens or NFT assets through a single control panel;
· Developer-focused TipLink Wallet Adapter supports seamless wallet integration, allowing users to sign transactions with just a Google account.
Although the reshaped FIN has not disclosed all the details, it has clearly defined five core operational logics:
· Based on the stablecoin USDC: FIN supports the use of the USDC stablecoin as a settlement medium. Jeremy Allaire, co-founder and CEO of Circle, stated in a demo of FIN's launch that the seamless connection between USDC corporate accounts and payments, as well as the interoperability of fiat and cryptocurrency in the background, brings an efficient user experience.
· Focus on "High-Value Transactions": Unlike TipLink's early focus on low-value transfers for retail consumers and many small payment apps targeting retail consumers, FIN is focused on high-value institutional transactions. Use cases include asset transfers for high-net-worth individuals, import/export trade settlements, cross-border corporate internal transfers, and more.
· Hub for Fiat and Digital Assets: As Jeremy Allaire mentioned, thanks to the interoperability of fiat and cryptocurrency in the background, users can convert fiat to stablecoin for cross-border transfers. The recipient can choose to hold the stablecoin or cash out directly to a local bank account through FIN's compliance channels.
· Where Does Revenue Come From? According to Fortune magazine, FIN indicates that its revenue will come from fees, but these fees will be lower for users compared to other alternative solutions. Additionally, FIN will also generate revenue through interest income on stablecoins held in the FIN wallet.
· "De-Crypto" Experience: Ian Krotinsky explicitly stated that FIN aims to leverage the advantages of stablecoins while eschewing their complexity. When using FIN, users do not need to understand concepts like gas fees, private keys, or on-chain confirmations.
Conclusion
From TipLink's "Link Transfer" as a single-point feature to FIN's "Payment Platform," the Web3 payment track is evolving from "fun" to "useful" and "commercially viable."
If TipLink has brought the convenience of "sending money through a link" to users, then FIN aims to make this convenience the daily standard for global business trade.
In the increasingly crowded stablecoin field, FIN stands out as a player worth long-term attention due to its team's quantitative genetics, clear institutional positioning, and compatibility with traditional finance.
FIN has revealed plans to launch a pilot project targeting import and export enterprises. For such enterprises, cross-border payment efficiency directly impacts supply chain turnover, and FIN's "instant settlement" service may further drive efficiency in the cross-border payment industry.
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Before using Musk's "Western WeChat" X Chat, you need to understand these three questions
The X Chat will be available for download on the App Store this Friday. The media has already covered the feature list, including self-destructing messages, screenshot prevention, 481-person group chats, Grok integration, and registration without a phone number, positioning it as the "Western WeChat." However, there are three questions that have hardly been addressed in any reports.
There is a sentence on X's official help page that is still hanging there: "If malicious insiders or X itself cause encrypted conversations to be exposed through legal processes, both the sender and receiver will be completely unaware."
No. The difference lies in where the keys are stored.
In Signal's end-to-end encryption, the keys never leave your device. X, the court, or any external party does not hold your keys. Signal's servers have nothing to decrypt your messages; even if they were subpoenaed, they could only provide registration timestamps and last connection times, as evidenced by past subpoena records.
X Chat uses the Juicebox protocol. This solution divides the key into three parts, each stored on three servers operated by X. When recovering the key with a PIN code, the system retrieves these three shards from X's servers and recombines them. No matter how complex the PIN code is, X is the actual custodian of the key, not the user.
This is the technical background of the "help page sentence": because the key is on X's servers, X has the ability to respond to legal processes without the user's knowledge. Signal does not have this capability, not because of policy, but because it simply does not have the key.
The following illustration compares the security mechanisms of Signal, WhatsApp, Telegram, and X Chat along six dimensions. X Chat is the only one of the four where the platform holds the key and the only one without Forward Secrecy.
The significance of Forward Secrecy is that even if a key is compromised at a certain point in time, historical messages cannot be decrypted because each message has a unique key. Signal's Double Ratchet protocol automatically updates the key after each message, a mechanism lacking in X Chat.
After analyzing the X Chat architecture in June 2025, Johns Hopkins University cryptology professor Matthew Green commented, "If we judge XChat as an end-to-end encryption scheme, this seems like a pretty game-over type of vulnerability." He later added, "I would not trust this any more than I trust current unencrypted DMs."
From a September 2025 TechCrunch report to being live in April 2026, this architecture saw no changes.
In a February 9, 2026 tweet, Musk pledged to undergo rigorous security tests of X Chat before its launch on X Chat and to open source all the code.
As of the April 17 launch date, no independent third-party audit has been completed, there is no official code repository on GitHub, the App Store's privacy label reveals X Chat collects five or more categories of data including location, contact info, and search history, directly contradicting the marketing claim of "No Ads, No Trackers."
Not continuous monitoring, but a clear access point.
For every message on X Chat, users can long-press and select "Ask Grok." When this button is clicked, the message is delivered to Grok in plaintext, transitioning from encrypted to unencrypted at this stage.
This design is not a vulnerability but a feature. However, X Chat's privacy policy does not state whether this plaintext data will be used for Grok's model training or if Grok will store this conversation content. By actively clicking "Ask Grok," users are voluntarily removing the encryption protection of that message.
There is also a structural issue: How quickly will this button shift from an "optional feature" to a "default habit"? The higher the quality of Grok's replies, the more frequently users will rely on it, leading to an increase in the proportion of messages flowing out of encryption protection. The actual encryption strength of X Chat, in the long run, depends not only on the design of the Juicebox protocol but also on the frequency of user clicks on "Ask Grok."
X Chat's initial release only supports iOS, with the Android version simply stating "coming soon" without a timeline.
In the global smartphone market, Android holds about 73%, while iOS holds about 27% (IDC/Statista, 2025). Of WhatsApp's 3.14 billion monthly active users, 73% are on Android (according to Demand Sage). In India, WhatsApp covers 854 million users, with over 95% Android penetration. In Brazil, there are 148 million users, with 81% on Android, and in Indonesia, there are 112 million users, with 87% on Android.
WhatsApp's dominance in the global communication market is built on Android. Signal, with a monthly active user base of around 85 million, also relies mainly on privacy-conscious users in Android-dominant countries.
X Chat circumvented this battlefield, with two possible interpretations. One is technical debt; X Chat is built with Rust, and achieving cross-platform support is not easy, so prioritizing iOS may be an engineering constraint. The other is a strategic choice; with iOS holding a market share of nearly 55% in the U.S., X's core user base being in the U.S., prioritizing iOS means focusing on their core user base rather than engaging in direct competition with Android-dominated emerging markets and WhatsApp.
These two interpretations are not mutually exclusive, leading to the same result: X Chat's debut saw it willingly forfeit 73% of the global smartphone user base.
This matter has been described by some: X Chat, along with X Money and Grok, forms a trifecta creating a closed-loop data system parallel to the existing infrastructure, similar in concept to the WeChat ecosystem. This assessment is not new, but with X Chat's launch, it's worth revisiting the schematic.
X Chat generates communication metadata, including information on who is talking to whom, for how long, and how frequently. This data flows into X's identity system. Part of the message content goes through the Ask Grok feature and enters Grok's processing chain. Financial transactions are handled by X Money: external public testing was completed in March, opening to the public in April, enabling fiat peer-to-peer transfers via Visa Direct. A senior Fireblocks executive confirmed plans for cryptocurrency payments to go live by the end of the year, holding money transmitter licenses in over 40 U.S. states currently.
Every WeChat feature operates within China's regulatory framework. Musk's system operates within Western regulatory frameworks, but he also serves as the head of the Department of Government Efficiency (DOGE). This is not a WeChat replica; it is a reenactment of the same logic under different political conditions.
The difference is that WeChat has never explicitly claimed to be "end-to-end encrypted" on its main interface, whereas X Chat does. "End-to-end encryption" in user perception means that no one, not even the platform, can see your messages. X Chat's architectural design does not meet this user expectation, but it uses this term.
X Chat consolidates the three data lines of "who this person is, who they are talking to, and where their money comes from and goes to" in one company's hands.
The help page sentence has never been just technical instructions.

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