Infini, China’s most widely used crypto card payment service, has announced it will permanently suspend all card-based services, marking a significant pivot toward financial management and yield-driven offerings.
According to a statement published via the platform’s official Telegram channel, all card-related services — including the Global Card, Lite Card, and Tech Card — will be disabled starting June 17. This move effectively ends the ability for users to make payments both online and offline using Infini’s crypto-backed debit products.
“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 notice read.
While Infini did not disclose a specific reason for this abrupt decision, the company indicated that the change reflects a broader reorientation toward core financial management tools and services.
Refunds to Be Processed Automatically
Infini assured users that all non-card services — such as crypto top-ups, withdrawals, and stablecoin yield features — will continue to function normally. Users with existing balances on their cards will be automatically refunded, with no manual action required.
The company stated that card refunds will be processed within 10 business days, while ongoing bills and pending charges will be credited to user accounts within 5 to 21 business days.
Regulatory Pressure or Internal Turmoil?
The news comes just months after Infini was rocked by a major scandal. In February 2025, the platform suffered a $50 million insider exploit, reportedly involving a rogue engineer who siphoned user funds for personal gain. In March, founder Christian Li publicly offered the attacker 20% of the stolen funds and legal immunity if the money was returned — a move that raised questions about the platform’s internal controls.
Though based in Hong Kong, Infini has gained significant traction among mainland Chinese users, despite the country’s ongoing ban on cryptocurrency trading and payments. Many Chinese users reportedly accessed the platform through VPNs and third-party providers, using Infini’s services to convert and spend digital assets in the real world.
What’s Next for Infini?
With over $50 million in total value locked (TVL) and more than 10,000 followers on X, Infini has positioned itself as a crypto-first neobank. Its future now appears focused on enhancing financial infrastructure — particularly stablecoin yields and digital asset management tools — rather than payment solutions.
As regulatory scrutiny tightens in Asia and operational risks grow, Infini’s decision may represent a broader shift within the crypto neobank sector, where profitability and compliance increasingly outweigh convenience.
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