Former Citadel engineers Ian Krotinsky and Aashiq Dheeraj have secured a $17 million funding round to launch Fin, a stablecoin-based payments app designed for high-value international transactions. The startup’s previously known as TipLink, will pilot its app within the coming month and target businesses involved in import-export activities that regularly move large sums of money (hundreds of thousands of dollars).
Fin aims to streamline payment processes by leveraging stablecoins, allowing users to send funds to other platforms, bank accounts, and crypto wallets. By reducing costs compared to traditional wire transfers, the company seeks to generate revenue from transaction fees, lower than typical bank alternatives, as well as interest accrued on user-held stablecoin balances.
Krotinsky explained to Fortune that Fin addresses high-value payments that services like Venmo and Zelle are not designed to handle instantly, offering faster global transfer capabilities without the delays associated with traditional banking networks.
Fin’s launch follows a surge in interest from financial institutions, as banks, payment giants and card networks have accelerated their expansion into stablecoin products. The GENIUS Act in July has prompted these moves, pushing them toward this sector to mitigate competition from fintech companies developing payment tools that resemble traditional banking services.
Companies like JPMorgan Chase, Citigroup, Western Union, Visa and more are actively exploring the potential of stablecoins for digital payments, signaling a significant shift within the financial industry.