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Infini, one of China’s most widely used crypto card payment services, has announced the immediate suspension of all card-related services. The platform is shifting its focus toward financial management offerings as part of its strategic pivot.

Infini Ceases Card Payment Services

As per an official statement shared via the company’s Telegram channel, all card payment services will be discontinued starting June 17. This decision affects all card products, including the Global Card, Lite Card, and Tech Card, rendering them unusable both offline and within the Infini digital app. Users have been advised that these services are no longer operational.

“We have decided to suspend our card services. Effective immediately, all card functions will be suspended for both usage and new applications. We sincerely apologize for any inconvenience this may cause,” the platform stated in its notice.

Reasons Behind the Suspension

While Infini has not disclosed specific reasons for halting card services, it has indicated plans to focus more on financial management solutions. The firm has assured customers that its core services, including top-ups, withdrawals, and yield functions, will remain fully operational despite the changes.

Refund Process for Card Users

To support affected users, Infini has initiated an automatic refund process for all card-related balances. Customers will not need to take any manual action, as refunds will be processed directly to their account balances within 10 business days. For ongoing bills, refunds may take between 5 to 21 business days to complete.

“Any ongoing bills will be refunded directly to your Infini account. These refunds are expected to be completed within 5 to 21 business days,” the company confirmed.

Infini’s Unique Position in the Crypto Market

Infini, a crypto-first neobank headquartered in Hong Kong, has gained significant traction despite China’s longstanding ban on cryptocurrency. Many users in mainland China access Infini’s services through VPNs or alternate providers. The platform has combined stablecoin yield generation with crypto-backed debit cards, enabling easy real-world spending and everyday earning opportunities.

With over 10,000 followers on social media and more than $50 million in total value locked (TVL), Infini has established itself as a key player in the global crypto market.

Past Challenges and Security Issues

Infini has faced challenges in recent months. Notably, in February, the platform experienced a $50 million insider exploit involving an in-house engineer. This individual allegedly embezzled funds for personal gain, prompting Infini’s founder, Christian Li, to offer the hacker 20% of the bounty and legal immunity in exchange for the return of the stolen assets.

Despite these setbacks, Infini continues to operate its core services and provide financial solutions to its global user base.

What’s Next for Infini?

As Infini transitions away from card services, the platform’s focus on financial management could pave the way for new products and features. Users are encouraged to stay updated on the platform’s developments as it adapts to the evolving cryptocurrency landscape.

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