The Birth of Fin: How a Side Project Uncovered the Real Challenges of Cross-Border Payments
During their time at Citadel, Ian Krotinsky and Aashiq Dheeraj often spent their free hours developing side projects. On one occasion, they built a Reddit-style platform and introduced a reward system: earn $50 for reaching the front page. They quickly discovered a major issue: sending money cheaply, quickly, and reliably worldwide is surprisingly difficult. Every stage, from fees and speed to international taxes and banking procedures, was filled with friction.
(Source: FIN)
This experience marked the beginning of Fin. Although they hadn’t yet launched a company, it was clear to them. Global payment infrastructure needed a complete overhaul. They began focusing on how stablecoin technology could address the pain points of cross-border remittances.
Securing $17 Million in Funding
Fin (formerly TipLink) recently raised $17 million in its latest funding round, led by Pantera Capital with participation from Sequoia and Samsung Next. CEO Krotinsky noted that the company’s valuation remains undisclosed, but the team’s product vision is clear: Fin isn’t a stablecoin-based payment solution—it’s a next-generation payment solution. The platform uses stablecoins as its settlement layer, by hiding all complex on-chain operations, allowing users to benefit from speed and efficiency without technical burdens.
Product Philosophy
Fin’s core philosophy is straightforward: make cross-border payments as easy as sending a message. The interface centers on three main features:
- Instant transfers between Fin users
- Deposits to and withdrawals from bank accounts
- Support for stablecoins across multiple blockchains for payments and receipts
With its stablecoin-based transaction network, Fin delivers far faster speeds than SWIFT, ACH, or traditional wire transfers, all while keeping costs low.
Business Model
Fin targets B2B partners in import/export and international supply chain sectors as its initial pilot market. Its revenue streams include:
- Cross-border transaction fees lower than those of traditional banks
- Interest income from stablecoins held in Fin wallets
Stablecoins can generate returns from short-term assets, similar to money market funds. As a result, Fin can offer low fees while maintaining a stable revenue base.
Fin’s Competitive Landscape
Major multinational banks like JPMorgan and Barclays control international wire transfers, corporate payments, and cross-border settlements. However, their legacy systems are too complex to pivot quickly to stablecoin-based models. Fin, by building from the ground up with modern payment technology, has a significant advantage in developing new infrastructure.
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Conclusion
Fin isn’t just streamlining cross-border payments—it’s redefining what’s possible for global payment networks. By reducing settlement costs, speeding up transactions, and strengthening support for stablecoins across multiple blockchains, Fin is steadily building a payment infrastructure that can rival traditional giants. Fin’s rollout is still gaining momentum, but the team’s strategy is clear: placing stablecoins at the core, using on-chain settlement as the foundation, and focusing on global business. The goal is to deliver a next-generation payment system for both enterprises and consumers. As partnerships grow and regulatory frameworks mature, Fin is well-positioned to become the next global payment leader, and its impact is expected to grow in the coming years.
