Odaily Planet Daily News: Infini Innovation (@ 0xsexybana) posted on X platform stating:
1. Infini no longer offers to C card services. The reason is that compliance costs are extremely high, profits are extremely thin, and operations are extremely heavy. We have made a strategic adjustment and removed the business of the To C card part, which is easy to be ridiculed for being in the industry. At present, the To C Card business accounts for 99% of the time and cost, contributing zero revenue.
2. Financial management, normal deposit and withdrawal. Wealth management and asset management services have become the focus. The function of Wealth Management Yu'ebao remains stable at around 5% APR.
3. The current path of the crypto card is still to Offramp UT and UC, and then implement a stable payment path to Fiat through traditional payment networks. Too complicated and too long, the cost is too expensive. Without subsidies, it is difficult to match the rates and cashback of web2. And I have always said before that U-card is not the ultimate solution for web3 pay with stablecoin. It's a bit like Apple Nano was eventually replaced by iPhone.
4. The company hasn't changed, the team hasn't changed, the brand hasn't changed. Like Teacher Yishi, after a year of following the old path of U-card, I found that it's still not worth doing,. Thinking back to when I first started working on Infini in July last year, I learned a lot from Professor Yishi, and after a year, the conclusion was the same, which made me very emotional.
5. At present, Infini is a centralized product, and we will fully embrace decentralization in the future. Think about embracing decentralized payment solutions. We will definitely not follow the old path of centralization.
