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 Planet News: Infini co-founder (@0xsexybanana) posted on X platform stating: 1. Infini is no longer doing consumer card business. The reasons are extremely high compliance costs, extremely thin profits, and extremely heavy operations. (Oh, I forgot it's also easily mocked in the industry) We have made strategic adjustments and removed the consumer card business segment. Currently, consumer card business occupies 99% of time and costs, contributing 0 revenue. 2. Financial management and deposits/withdrawals are normal. Financial management and asset management businesses have become the focus. Financial management balance treasure function is stable at around 5% APR. 3. The current path of crypto card is still offramp to UT and UC, then achieving stable to fiat payment through traditional payment networks. It's too complicated, too long, and too expensive. Without subsidies, it's difficult to match Web2 rates and cashback. Moreover, I've always said that U card is not the ultimate solution for Web3 pay with stablecoin. It's somewhat like Apple Nano eventually being replaced by iPhone. 4. The company remains unchanged, the team remains unchanged, the brand remains unchanged, just like walking the U card path with Teacher Yishi for a year and finding it's not worth doing. Thinking back to July last year when we first started Infini and learned a lot from Teacher Yishi, the conclusion after a year is the same, which is quite emotional. 5. Currently, Infini is a centralized product, and we will fully embrace decentralization in the future. We will think about embracing decentralized payment solutions. We absolutely will not follow the centralized old path again.