Corn Abandons Bitcoin Layer-2, Launches Private Club with Stablecoin Card

Corn, a company that once held $1 billion in deposits on its Bitcoin layer-2 network, has shut down this service due to declining usage after incentives ended.

The company is pivoting towards a new business model: a private members club for digital asset holders. This club will offer a stablecoin payment card with personalized concierge services and exclusive events.

Prominent investor Polychain Capital has invested in Corn three times, bringing total funding to $19 million to support this new service model.

The issued stablecoin card settles transactions in USDC on the Base network and will be available in over 50 countries, including the US. Unlike many other crypto services, Corn is focusing on providing a premium service experience rather than competing on fees or rewards.