Summary
- Infini, a leading Chinese virtual asset payment service, announced its withdrawal from the business.
- Infini stated that with the end of the virtual asset card service, both usage by existing holders and new applications are no longer possible.
- It was reported that the strengthening of financial regulations may have influenced this service termination.
Infini (Infini), a leading Chinese virtual asset (cryptocurrency) payment service, has announced its withdrawal from the related business.
On the 17th (local time), Infini announced on its official Telegram channel, "We are ending the virtual asset card service," and added, "All card functions are suspended immediately, and usage by existing holders as well as new applications are no longer possible." They further stated, "We plan to focus on financial management services in the future," and that "refund procedures related to the card are underway."
Meanwhile, there is speculation that Infini's decision to end the virtual asset card service was influenced by strengthened regulations from financial authorities. Wu Blockchain, through X (formerly Twitter), commented, "This service termination illustrates the challenges that virtual asset cards face regarding regulatory compliance."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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