PANews reported on December 3 that Fin, a stablecoin application founded by former Citadel employees, announced the completion of a $17 million funding round. The round was led by Pantera Capital, with participation from Sequoia and Samsung Next.

This application aims to provide cross-border and large-value payment services using stablecoin technology, enabling fast global transfers without complex operations. It supports transfers to other Fin users, bank accounts, or cryptocurrency wallets, and claims fees will be significantly lower than traditional banking channels. Fin primarily targets large-value cross-border or domestic transfers, such as addressing payment efficiency issues in import/export trade. The application is not yet officially launched but plans to begin a pilot program next month among import/export companies. The company's profits will come from transfer fees and stablecoin reserve interest.