Solana Stablecoin ISC Money to Shut Down Operations

Earlier today, the co-founder of ISC money, a yield-bearing stablecoin on Solana, announced that the company would enter survival mode and shut down most of its operations. The ISC token will remain functional, but other features like its points system and ecosystem integrations will cease. ISC’s co-founder, Richard, announced via X that the company would be pivoting to FxSwap full-time. According to Richard, ISC's failure to find product market fit (PMF), even after exceeding the original budget, influenced the decision to close the company. “After working for more than 2 years on ISC, this decision is heart-wrenching. Especially considering that every week, we’re ever closer to a breakthrough. ISC launched at $1.54 and is now sitting at $1.81. It works,” Richard said. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io