Infini Lianchuang: The reason for removing the business is that the compliance cost of to C card is extremely high and the profit is thin

Odaily News Infini Lianchuang (@0xsexybanana) posted on the X platform:
1. Infini will no longer do the to C card business. The reason is that the compliance cost is extremely high, the profit is extremely thin, and the operation is extremely heavy. (Oh, I forgot that it is easy to be laughed at for being the bottom of the industry) We have made strategic adjustments and removed the to C card business. Currently, the to C card business occupies 99% of the time and cost, and contributes 0 income.
2. Financial management, deposit and withdrawal are normal. Financial management and asset management business have become the focus. The financial management Yu'ebao function is stable at around 5% apr.
3. The current path of crypto card is still to offramp ut and uc and then realize the payment path from stable to fiat through the traditional payment network. It is too tortuous, too long and too expensive. Without subsidies, it is difficult to match the rates and cashback of web2. And I have always said that u card is not the final solution for web3 pay with stablecoin. It is a bit like the apple nano was finally replaced by the iPhone.
4. The company has not changed, the team has not changed, and the brand has not changed. Like Teacher Yishi, I have been following the old U-card path for a year and found that it is still not worth doing. When I first started Infini in July last year, I learned a lot from Teacher Yishi. As a result, after a year, the conclusion is the same. I feel very emotional.
5. Currently, infini is a centralized product. We will fully embrace decentralization in the future. We will think about embracing decentralized payment solutions. We will never follow the old centralized path.