June 19, 2025

By Anjali Kochhar

For thousands of crypto users in China, the Infini crypto card was a rare financial lifeline. Now, that lifeline has been abruptly cut off. In a surprise announcement, Hong Kong-based crypto neobank Infini has shut down its popular crypto card services, removing one of the last remaining stablecoin spending options for Chinese residents.

Infini had gained widespread popularity by enabling users to spend USDT and USDC using Visa and Mastercard networks. The company confirmed that its Global Card, Lite Card, and Tech Card are being permanently discontinued. It pointed to tightening regulations, rising compliance costs, and decreasing profit margins as the primary reasons for the decision.

The shutdown comes as a heavy blow to crypto users in mainland China. Since the government imposed a blanket ban on cryptocurrency transactions and access to foreign crypto platforms in 2021, many users had resorted to VPNs and offshore services like Infini to manage their digital assets. With Infini now exiting the card space, options are growing increasingly scarce.

Customers who paid for cards but never activated them will be refunded directly to their Infini account balances. The company stated that refunds will be processed within ten business days, although it may take up to 21 days for the funds to appear depending on the bank.

Despite ending its card program, Infini is not shutting down entirely. The company said it will continue offering its other crypto services, including Earn products and decentralised payment options. It plans to shift its focus to building Web3 financial infrastructure and supporting on-chain financial tools for a more decentralised future.

This development highlights the growing challenges faced by crypto firms operating in regions with strict regulatory environments. As enforcement continues to intensify in China, Infini’s withdrawal signals that even established platforms are struggling to stay compliant and profitable.

For many users who relied on Infini’s crypto cards for everyday transactions, the search for alternative solutions has already begun.

About the author

Anjali Kochhar covers cryptocurrency and blockchain stories in India as well as globally. Having been in the field of media and journalism for over four years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.