Fin3 Technologies develops digital assets including stablecoins and tokenized bank deposits for financial applications. The platform offers products like Stables and Digital Drafts, focusing on controllable payments and digital negotiable instruments. This infrastructure facilitates modern, programmable payment solutions within the financial ecosystem.
Funding
Funding not disclosed
Founders
Product
Problem
Existing payment methods like credit cards, ACH, and wire transfers often present a trade-off between cost, speed, and convenience. Newer real-time payment (RTP) systems introduce gatekeepers, limiting accessibility and control.
Solution
Fin3 offers Digital Drafts, a payment solution leveraging updates to the Uniform Commercial Code to provide legally transferable and programmable digital checks. This technology enables enterprises and financial institutions to execute payments with improved cost-effectiveness, speed, and convenience compared to traditional methods. Digital Drafts support multiple settlement methods and programmable, instant transfer of ownership. They can be delivered via email, SMS, or even traditional mail, offering a versatile alternative payment rail.
Target Audience
Fin3 targets enterprises, financial institutions, and consumers seeking a low-cost, fast, and convenient alternative to traditional payment methods. Specific use cases include enterprise disbursements (rebates, refunds), disbursements with legal implications (insurance settlements, escrow refunds), and lockbox applications (rent payments, utility payments).
Features
- Legally transferable digital checks based on Uniform Commercial Code reforms
- Programmable payment logic for automated transactions
- Multiple settlement options to accommodate various business needs
- Delivery via email, SMS, or traditional mail for broad accessibility
- Compatibility with existing RTP infrastructure