Citadel Alumni Launch $17 Million Fin Stablecoin App to Simplify Crypto Access for Consumers

Fin Raises $17M to Disrupt Global Payments with Stablecoin App

NEW YORK – December 3, 2025 – Fin, a fintech startup building a stablecoin-powered payments app, has secured $17 million in a funding round led by Pantera Capital, with participation from Sequoia and Samsung Next. The company,founded by former Citadel engineers Ian krotinsky and Aashiq Dheeraj,aims to revolutionize how large sums of money are transferred internationally and domestically.

The genesis of Fin stemmed from the founders’ frustration with the complexities of global money transfers while working on a side project – a Reddit-like platform that rewarded popular content creators. Recognizing a significant gap in the market, they set out to create a seamless and cost-effective solution.

“Fin is built as the payments app of the future,” Krotinsky, the CEO, told Fortune. “We’re building an app that takes advantage of all the benefits of stablecoins without all the complexity,and it’s going to work anywhere in the world.”

Addressing a Critical Need

Fin directly tackles limitations of existing payment systems. Conventional wire transfers can be slow and expensive, while popular domestic apps like Venmo and Zelle impose strict payment limits, hindering large transactions. Fin’s app allows users to send and receive money to other Fin users, traditional bank accounts, or cryptocurrency wallets, leveraging stablecoin technology to substantially reduce fees and processing times.

The app is designed with user-friendliness in mind, boasting a simple and elegant interface. Fin is initially targeting businesses involved in international trade,such as a watch dealer in Switzerland selling to a U.S. customer, offering a faster and cheaper choice to traditional banking methods.

Timing is Key: The Rise of Stablecoin Regulation

Fin’s launch comes at a pivotal moment for the stablecoin industry. The recent passage of the Genius Act in July – signed into law by President Trump – established a clear regulatory framework for stablecoins, paving the way for wider adoption and institutional integration.This legislative milestone has spurred interest from established financial players, with even remittance giants like Western Union exploring crypto-based solutions.

Revenue Model & Future Plans

While the app is not yet publicly available, Fin plans to begin a pilot program with import and export businesses next month. The company will generate revenue through transaction fees – positioned as lower than existing alternatives – and by earning interest on stablecoins held within Fin wallets.

fin’s emergence signals a growing trend towards leveraging blockchain technology to address inefficiencies in the global financial system, potentially reshaping the future of payments for both individuals and businesses.

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The Rise of “Nova“: A New Era for Stablecoins?

A team of former Citadel engineers and quantitative analysts have secured $17 million in seed funding to launch “Nova,” a new mobile request designed to streamline access to stablecoins and, ultimately, the broader cryptocurrency market for everyday consumers.The funding round, led by [Insert Lead Investor if known – research needed], signals growing investor confidence in the potential of user-friendly crypto on-ramps. This progress comes at a pivotal moment as interest in digital currencies, stablecoins, and DeFi (decentralized Finance) continues to surge.

Understanding the Problem Nova Aims to Solve

Currently, navigating the world of cryptocurrency can be daunting for newcomers. Complex exchange interfaces, lengthy verification processes, and a general lack of understanding surrounding blockchain technology create notable barriers to entry. Existing solutions often require users to:

* Create accounts on multiple platforms.

* Understand complex order types (limit orders, market orders, etc.).

* Manage private keys and seed phrases – a major security concern for many.

* Contend with high gas fees and slow transaction times (particularly on Ethereum).

Nova directly addresses these pain points by offering a simplified, mobile-first experience focused on stablecoin usage. The app aims to abstract away the complexities of the underlying blockchain, allowing users to seamlessly buy, hold, and spend USD-pegged stablecoins like USDC and USDT.

How Nova Works: A Deep Dive into the Technology

While specific technical details remain somewhat limited, Nova is reportedly built on a hybrid architecture leveraging both centralized and decentralized components. this approach allows for a balance between user-friendliness, regulatory compliance, and security. Key features include:

* Simplified Onboarding: Users can sign up with just an email address and government-issued ID, bypassing the often-cumbersome KYC (Know Your Customer) processes of conventional exchanges.

* Fiat Integration: Direct integration with traditional banking infrastructure allows users to easily deposit and withdraw funds in their local currency.

* Automated Yield Optimization: Nova automatically seeks out the highest yield opportunities for users’ stablecoin holdings across various DeFi protocols. This feature aims to provide passive income without requiring users to actively manage their assets.

* Built-in Security: The app employs advanced security measures, including multi-factor authentication and cold storage of funds, to protect user assets.

* Focus on USDC & USDT: Initial support will center around the two most prominent USD stablecoins, offering liquidity and stability.

The Citadel Connection: Expertise in High-Frequency Trading & Risk Management

The founding team’s background at Citadel is particularly noteworthy. Citadel is renowned for its refined algorithmic trading strategies, robust risk management systems, and cutting-edge technology infrastructure. This expertise is directly applicable to the challenges of building a secure and scalable stablecoin application.

Specifically, the team’s experience in:

* High-Frequency Trading (HFT): Understanding market microstructure and order execution is crucial for optimizing stablecoin swaps and minimizing slippage.

* Quantitative Analysis: Developing sophisticated models for yield optimization and risk assessment.

* Enterprise-Grade Security: Implementing robust security protocols to protect against hacking and fraud.

* Data Analytics: Monitoring market trends and user behavior to improve the app’s functionality and user experience.

umesh Subramanian, a former Citadel engineer now involved with Nova (as highlighted on the Citadel website), brings valuable experience from Enterprise Data + Tech Summit, suggesting a focus on scalable and reliable data infrastructure – essential for a financial application.

Benefits of Using Nova: Why Consumers Might Switch

Nova offers several potential benefits over existing crypto solutions:

* Ease of Use: A simplified interface makes cryptocurrency accessible to a wider audience.

* Passive Income: Automated yield optimization allows users to earn rewards on their stablecoin holdings.

* Enhanced Security: Robust security measures protect user assets from theft and fraud.

* Lower Fees: Nova aims to offer competitive fees compared to traditional exchanges.

* Faster Transactions: Leveraging efficient blockchain infrastructure for quicker settlements.

The Competitive Landscape: Nova vs. Existing Players

Nova enters a crowded market with established players like:

* Coinbase: A leading crypto exchange offering a wide range of services.

* Binance: The world’s largest cryptocurrency exchange by trading volume.

* Circle: The issuer of USDC, a popular stablecoin.

* Trust Wallet: A mobile crypto wallet focused on simplicity and security.

* Cash App: Offers Bitcoin trading and stablecoin support.

Nova differentiates itself by focusing specifically on stablecoins and providing a truly simplified user experience. Its automated yield optimization feature also sets it apart from many competitors.

Regulatory Considerations & Future Outlook

The regulatory landscape surrounding stablecoins is rapidly evolving.Nova will need to navigate complex regulations to ensure compliance and maintain its operational license. Key regulatory areas include:

* KYC/AML (Know Your Customer/Anti-Money Laundering) compliance.

* Stablecoin reserve requirements.

* Securities laws.

Despite these challenges, the future looks bright for Nova. The