PLACEHOLDER - this document will contain links to all public facing dashboards about Rhino.fi that could be relevant or interesting to potential lenders to the Rhino Wildcat pools

Borrower Description

This is the public-facing description of Rhino.fi's business and the purpose of this borrowing facility.

About Rhino.fi

Rhino.fi is a stablecoin infrastructure company providing a Stablecoin Activation Stack to wallets, neobanks, payments platforms, and onchain exchanges. The company has processed over $10 billion in transaction volume and operates a growing portfolio of enterprise clients across the crypto-native and fintech sectors.

Rhino.fi's core infrastructure enables clients to offer their end users fast, reliable stablecoin movement across blockchains — without requiring those clients to manage their own liquidity, bridging infrastructure, or cross-chain settlement logic.

Business Model

Rhino.fi generates revenue by charging clients a fee (in basis points) on each transaction processed through its infrastructure. Clients integrate via API and SDK, and Rhino.fi handles all underlying complexity: chain connectivity, liquidity management, AML/KYT screening, rebalancing, and settlement.

The business operates on a delta-neutral basis. Rhino.fi does not take directional exposure to crypto assets. Stablecoins are held across multiple chains to ensure near-instant fulfilment of client transactions, and positions are continuously rebalanced using third-party bridging protocols including LayerZero (via USDT0) and Circle's CCTP. Rebalancing is automated and does not require manual intervention for routine flows.

Revenue is recurring, fee-based, and grows in proportion to client transaction volume. The client base is expanding, and aggregate monthly volumes are at all-time highs.

Client Profiles

Rhino.fi serves two primary client segments:

1. Onchain Finance — Neobanks and Payments Platforms

Clients in this segment use Rhino.fi to power stablecoin deposits, withdrawals, and cross-chain transfers for their end users. Example clients include:

• Fin (formerly TipLink) — a US-based business payments gateway backed by Sequoia, Multicoin, and Solana Ventures. Fin uses Rhino.fi as its primary infrastructure for high-value USDC/USDT cross-chain payment flows, with typical transaction sizes of $35k–$50k and individual clips up to $3M.
• Karta — a crypto-native neobank using Rhino.fi to power stablecoin deposits and withdrawals across multiple chains, with consistent month-on-month volume growth.

2. Onchain Speculation — Perpetuals Exchanges and Trading Platforms

Clients in this segment use Rhino.fi to provide seamless multi-chain deposit and withdrawal experiences for their traders. Example clients include: