Fin Raises $17M to Launch Stablecoin App for Cross-Border Payments

Fin, a payments beginup founded by former Citadel engineers Ian Krotinsky and Aashiq Dheeraj, has $17 million in a Series A round, backed by major venture investors. The funding marks growing confidence in stablecoins as a practical alternative for global transfers and highlights renewed interest in rebuilding cross-border payments from the ground up using blockchain rails.

The platform is designed to support near-instant, high-value international payments using stablecoins instead of traditional banking infrastructure. Through the platform, users can send funds to other Fin users, crypto wallets, or bank accounts across multiple jurisdictions. By bypassing sluggish correspondent banking systems, the beginup promises quicker settlement times and lower transaction costs compared to standard wire transfers.

The idea for Fin reportedly came from the founders’ direct experience dealing with cross-border payment friction while working on side projects. They saw how inefficient, expensive, and restrictive existing systems were—even for relatively straightforward international transactions. This gap, they said, revealed an opportunity to build a modern, programmable alternative that works at internet speed.

“It’s hard for incumbents to rip out their whole infrastructure and build a proper payments product in the new global stablecoin regime,” said Ian Krotinsky, co-founder of Fin, highlighting the structural challenge traditional financial institutions face in adapting to blockchain-based settlement systems.

With the new capital, the company’s plans to scale its engineering and compliance efforts while rolling out pilot programs for businesses that frequently handle large international transfers, including import-export firms and global service providers. These ahead users are expected to assist shape the product as it moves toward full commercial launch.

Banks and Regulators Accelerate Stablecoin Adoption

Fin’s launch comes as stablecoins gain traction across both traditional finance and government-led regulatory efforts. In the United States, and crypto custody in partnership with leading platforms, signalling that blockchain-based settlement is moving closer to the mainstream financial system.

This institutional experimentation reinforces the growing demand for quicker, more efficient cross-border payment rails—the very difficulty Fin is positioning itself to solve.

At the identical time, regulators in Asia are stepping in to shape how stablecoins operate. , while South Korea is , including full-reserve requirements and tighter consumer protections. These moves suggest that stablecoins are no longer an unregulated experiment but an emerging component of national financial systems.