On June 17, Infini Card, a China-based crypto card provider, announced the immediate suspension of all its card-related services.
The recent development includes the Global Card, Lite Card, and Tech Card, with both usage and new applications being halted indefinitely.
The decision marks a significant turning point for the company, which cited the high cost of compliance, minimal profit margins, and operational burdens. They all serve as reasons for stepping away from its consumer-facing card business.
In a public statement, Infini emphasized its pivot toward financial management and asset services as it moves to embrace a more decentralized business model going forward.
User Refunds Promised As Part of Exit Strategy
To mitigate the impact on its customers, Infini has pledged to issue full refunds for all affected users who paid for card applications.
The company stated that any fees paid, minus discounts, will be automatically refunded to the users’ Infini account balances.
The process is expected to take up to 10 business days, with no manual intervention required from users.
The company also reassured its user base that any pending or recently submitted refund requests would be honored, with full repayment to be completed within 5 to 21 business days depending on the nature of the claim.
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Core Services to Continue Operating Without Disruption
Despite the discontinuation of its crypto card services, Infini clarified that its core functions, including wallet top-ups, withdrawals, and the Earn yield program, remain fully operational.
These services are not affected by the suspension of card functions, and user assets continue to be secure and accessible.
Infini emphasized that customer funds are protected and that users can freely manage their balances and participate in the platform’s yield-generating opportunities during and after the transition.
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Long-Term Strategy: Moving Toward Decentralized Finance
Infini’s announcement reflects a broader strategic pivot toward decentralized finance (DeFi) and away from centralized consumer services like crypto-linked debit cards.
According to the company, its future will center on offering financial and asset management tools that align with DeFi principles.
The shift is driven not only by profitability concerns but also by an intention to streamline operations and reduce the regulatory burden associated with traditional financial products.
Infini’s leadership views decentralization as a more scalable and sustainable business model in the evolving global crypto landscape.
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Communication Channels Open as Company Reassures Users
To maintain transparency and provide assistance during the transition, Infini is encouraging users to reach out through its in-app support system or via its official Telegram community.
The company has acknowledged the inconvenience caused by the abrupt changes but reaffirmed its commitment to processing all refunds and maintaining the integrity of its remaining services.
Users are advised to monitor their account balances and contact support if refunds are delayed beyond the estimated processing times.
With this strategic withdrawal, Infini aims to restructure and redefine its role in the blockchain finance ecosystem.
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