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Stablecoin App Fin Secures $17M Funding Led by Pantera Capital

Stablecoin App Fin Secures $17M Funding Led by Pantera Capital

Fin announces $17M funding from Pantera Capital, Sequoia, and Samsung Next to expand instant stablecoin-based large-scale transfers worldwide.

Summary

Fin, a stablecoin cross-border remittance firm, has confirmed raising $17 million in a funding round led by Pantera Capital, with Sequoia and Samsung Next also participating, according to the company's official statement. Its app enables instant large transfers globally, aiming to disrupt traditional banking with faster and lower-cost solutions. Founded by former Citadel staff, Fin is preparing a pilot program for international commerce in the import-export sector next month.

Terms & Concepts
  • Stablecoin: A cryptocurrency designed to maintain a stable value, often pegged to a fiat currency like the US dollar.
  • Cross-border transfers: Financial transactions that move funds between different countries, often involving currency conversion.
  • Import-export sector: Industry focused on trading goods and services between countries, often involving complex payment and logistics processes.