#稳定币市场发展 Seeing the news that Pantera, Sequoia, and Samsung jointly invested 17 million USD in FIN, my first reaction was not excitement, but reflection—what does this really signify?

Cross-border payments have always been a pain point in traditional finance—inefficient, high costs, and complicated processes. FIN entered this space with stablecoins, upgrading from the small-scale personal transfers of its predecessor TipLink to large-scale institutional transactions. This evolutionary logic is quite clear. But I want to remind everyone that capital favoring a certain sector doesn’t mean every participant will succeed.

The key points to consider are threefold: First, whether the team truly understands the scenario needs—FIN’s founders come from Citadel with a quantitative trading background, which means they deeply understand the real pain points of large-scale cross-border transfers, not just imagining them out of thin air. Second, whether the business model can be sustainable—earning through transaction fees and stablecoin interest sounds reasonable, but in this highly competitive space, how long the pricing power can be maintained is uncertain. Third, regulatory risks—the more a project involves fiat currency exchange and cross-border elements, the greater the regulatory risks.

It’s a fact that the stablecoin market is heating up, but heating up doesn’t necessarily mean dividends. In the long run, projects like these require patience to build a user base, refine products, and navigate regulations. If you’re paying attention to this sector, I suggest not getting carried away by the hype of funding news, but instead focusing on the actual progress and risk evolution over six months or a year. Safety always comes first.