Infini Venture: The strategic adjustment is due to high compliance costs and thin profits, and will focus on wealth management and asset management.

According to BlockBeats news, on June 17, Christine, co-founder of Infini, stated on social media that “Infini has officially announced the cessation of its cryptocurrency card business aimed at individual users (To-C), due to high compliance costs, thin profits, and complex operations. Although this business occupied about 99% of the company’s resource investment, it did not bring considerable income and has been strategically divested. Wealth management and asset management will become the key focus in the future. Currently, Infini’s wealth management products have stable annualized returns of around 5%, and functions such as deposit and withdrawal are all operating normally. Infini stated that the current paths for cryptocurrency cards in the market rely on complex off-chain clearing systems, which have high costs and lengthy processes, making it difficult to compete with the cost structure and user experience of Web2, and it is not the ideal Web3 payment solution envisioned by Infini.” Previous reports indicated that Infini announced the official cessation of its Infini Card services today, including Global Card, Lite Card, and Tech Card, which will be suspended from use and new applications effective immediately. Despite the termination of the card services, core functions such as deposit, withdrawal, and Earn returns will continue to operate normally.