Fun's New Deposit Rails Could Revolutionize Crypto Payments

A payments infrastructure startup called Fun is making bold claims about the future of crypto payments. According to its CEO, Alex Fine, on-ramps and bridges that currently connect traditional finance to cryptocurrency will be a thing of the past within a year.

Fine argues that we're entering a new era in crypto payments, one where purpose-built 'deposit' products use behavioral data and chain-specific defaults to route users from fiat to on-chain actions without friction. This approach has already delivered 8x higher fiat volume and conversion rate improvements ranging from 3.4x to 8x compared to existing aggregators like MoonPay and Stripe.

The company, which closed a $72 million Series A round in May 2026, generates revenue purely from facilitating fiat-to-on-chain conversions. Its claims are being met with skepticism, however, as the conversion rate gap it cites is self-reported and may be influenced by its own interests.