Infini Lianchuang’s New Business Strategy
In a recent announcement on the X platform, Infini Lianchuang revealed significant shifts in its business strategy, particularly regarding its consumer-focused card services. The company has decided to eliminate its to C card offerings, citing the substantial expenses associated with compliance, minimal profitability, and burdensome operational demands. This move comes as the to C card segment has consumed an overwhelming 99% of the company’s resources, yet has yielded no revenue.
Emphasis on Financial Management Services
As Infini pivots away from the to C card segment, it is placing a stronger emphasis on its financial management services. The firm’s deposit and withdrawal operations are functioning as usual, and its asset management services are now the priority. Notably, its financial management product, Yuebao, consistently provides a return around 5% APR.
Re-evaluation of Cryptocurrency Payment Solutions
Infini is also re-evaluating its approach to cryptocurrency payment solutions. Currently, the process of converting cryptocurrency into fiat currency is convoluted, costly, and protracted, lacking the financial incentives typically found in traditional Web2 offerings. The company’s leaders expressed skepticism about the viability of the current crypto cards, likening the U-card’s promise to outdated technologies that were ultimately replaced—paralleling the transition from the iPod Nano to the iPhone.
Commitment to Team and Brand Identity
Despite these changes, Infini reaffirms that its core team and brand identity remain intact. The team’s journey, which started in July of the previous year, is marked by reflections on lessons learned from industry figures like Teacher Yishi. These insights have shaped the decision-making process, leading to the conclusion that the previous path for the U-card was not sustainable.
Looking Ahead: Decentralization
Looking ahead, Infini is committed to transitioning from a centralized model to a decentralized approach. The company has plans to explore innovative decentralized payment solutions rather than reverting to traditional centralized methods. This strategic forward-thinking aligns with a broader trend in the industry, as companies seek to leverage the benefits of decentralization in their service offerings.
