Fin Launches with $17M Seed Funding to Transform Enterprise Payments Using Stablecoins

Fin, a new payments platform co-founded by Ian Krotinsky and Aashiq Dheeraj, has emerged from stealth mode with a $17 million seed funding round led by Pantera Capital, alongside participation from Sequoia and Samsung Next. The platform aims to streamline cross-border payments for enterprises, leveraging stablecoin technology to facilitate high-value transactions.

The founders, both former engineers at Citadel, recognized the challenges associated with traditional banking methods for international payments. Fin's application allows users to send significant amounts of money—ranging from hundreds of thousands to millions of dollars—easily and efficiently, akin to sending a text message. This is particularly targeted at businesses such as import-export firms that currently rely on slow bank wires.

Fin plans to generate revenue through transaction fees and interest earned on its stablecoin reserves. A pilot program is scheduled to launch in January 2026, focusing on real-world applications of their technology.

With the recent passage of the US GENIUS Act, which provides a clearer regulatory framework for stablecoins, Fin is positioned to compete directly with traditional banking networks like JPMorgan and Barclays. The upcoming pilot will be crucial in assessing the platform's effectiveness in handling the complexities of enterprise cross-border payments, including compliance with regulations and managing transaction failures.