Corn Rolls Out Exclusive Club for Digital Asset Holders with Stablecoin Cards and Concierge Services

Corn has launched a private members club for digital asset holders after closing its Bitcoin layer-2 network, which had held around $1 billion in deposits at its peak. The company announced that it will provide stablecoin payment cards with variable limits based on member holdings, along with concierge services and invitation-only events.

The decision to close the layer-2 network was made after Corn realized that much of the capital deposited had arrived for incentives rather than actual usage. Founder Chris Spadafora said that this experience taught him about the difference between usage and demand.

Polychain Capital has invested in Corn for a third time, bringing the company's total funding to $19 million. The new investment will support the concierge operation, card rollout, and member experience. Polychain co-chief investment officer Luke Pearson said that their approach stands out from the rest due to its focus on private-client service and concierge relationships.