Legacy crypto on-ramps and bridges will disappear as payments become invisible, Fun CEO says

While those applications have become increasingly visible, the infrastructure that enables deposits, withdrawals and settlement has largely remained behind the scenes.

Fun is one of the companies building that infrastructure. The firm said it powers 100% of deposits and withdrawals on Polymarket and deposit flows into Aave’s largest vaults, while processing more than $3 billion in monthly transaction volume.

The company has raised more than $75 million to date.

From payment rails to funding flows

Fine said today’s crypto payments ecosystem remains unnecessarily fragmented, with developers forced to stitch together different card processors, banking partners, crypto assets, blockchains and bridges to create funding experiences.

Instead of relying on individual payment rails, platforms should optimize around the end goal of getting users funded as quickly and seamlessly as possible, he says.

“In Web2, payments are highly fungible,” Fine said. “In Web3, they’re much more complex because every payment method behaves differently. Teams keep rebuilding the same infrastructure over and over again instead of building unified optimized funding flows.”

That shift means many existing crypto payment businesses risk becoming obsolete, according to Fine. Companies built around converting fiat into crypto or moving assets between blockchains are solving an intermediary step that users never cared about in the first place, he argued.