Infini Co-founder: Strategic adjustment is due to high compliance costs, slim profits, etc., and will focus on wealth management and asset management directions.

According to BlockBeats news on June 17, Infini co-founder Christine announced on social media that "Infini has officially ceased its cryptocurrency card business aimed at individual users (To-C). The reason is due to high compliance costs, slim profits, and complex operations. Although this business accounted for approximately 99% of the company's resource investment, it did not generate considerable revenue and has been strategically divested.

Wealth management and asset management businesses will become key focus areas in the future. Currently, Infini's wealth management products have a stable annualized return of around 5%, and functions such as recharge and withdrawal are operating normally.

In addition, the current market's cryptocurrency card implementation relies on a complex off-chain clearing system, which is costly and lengthy, making it difficult to compete with the cost structure and user experience of Web2. This is not the ideal Web3 payment solution envisioned by Infini.

Earlier reports indicated that Infini announced today the formal cessation of its Infini Card service, including the Global Card, Lite Card, and Tech Card, which will be suspended from use and new applications as of today. Although the card services have been terminated, core functions such as recharge, withdrawal, and Earn returns will continue to operate normally.