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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549       Amendment No. 1 to Form S-4 Registration Statement Under the Securities Act of 1933       INFINT ACQUISITION CORPORATION (Exact name of registrant as specified in its


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https://sec.report/Document/0001493152-22-034091/

Below was copied and pasted from reddit: (Its_lucifer) , which is also from the article. I'm lazy.

reddit link:

The funding process used by certain customers of Tranglo relies on cryptocurrency issued by one of our strategic partners; if they are not able to continue to provide services due to regulatory change, our business, financial condition and results of operations may be materially adversely effected.

The funding process used by certain customers of Tranglo relies on the cryptocurrency XRP issued by one of our strategic partners, Ripple. While only five of Tranglo’s 91 active customers utilize this funding process, and these customers (GEA Limited, Sentbe Pte Ltd, Eastern & Allied Pty Ltd, Pyypl Ltd, Kabayan Capital Limited) are each regulated financial institutions in their respective jurisdictions, for the six months ended June 30, 2022, these customers accounted for 12.1% of the remittance revenue (or 5.8% of the total revenue), 16.9% of the total remittance value and 26.5% of the total remittance transactions of Tranglo. Since June 30, 2022, Tranglo has migrated three additional customers (GMT Tech Innovation Ltd, Xbaht AB and BKK Forex Pte Ltd) to this funding process. These customers and this partner may be subject to new or additional regulation in jurisdictions where they operate or in which they offer services to us or our other partners with respect to their use of and transactions involving cryptocurrency, and they may also be required to obtain relevant licenses in order to provide services to us, our customers or our other partners. While we have obtained relevant approval for our existing operations that involve cryptocurrency, the regulation of cryptocurrency in the jurisdictions where we operate may evolve or change or new licensing regimes may be introduced in the future to regulate such activities. In addition, while we have adopted stringent know-your-customer processes and procedures which insure that Tranglo’s customers, which are businesses, are not U.S. persons, access of these partner services by U.S. persons could raise regulatory issues under U.S. law. While we are not aware of any pending regulatory changes which would prevent our partner from continuing to provide their services, we cannot provide any assurance regarding our partner’s ability to respond to any such changes. If our partner is not allowed to continue to provide their services due to regulatory changes or if the customers or our partner fail to obtain required licenses or comply with applicable regulations, and we are not able to migrate those customers to non-cryptocurrency based funding processes, our business, financial condition and results of operations may be materially adversely effected.

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