Lessons From Joselito Lizarondo on Launching a Fintech Firm During a Bear Market

Starting a company in the middle of uncertainty isn't for the faint of heart. However, for crypto entrepreneur Joselito Lizarondo, it was the crucible that defined his entrepreneurial journey. In 2018, when much of the crypto market was in free fall, Lizarondo set out to launch Swipe, a fintech platform designed to make digital assets spendable in real time. Against the odds, he not only built a product that survived the downturn, but he also introduced a model for stablecoin debit cards that later became part of broader developments in crypto payments.

So how did he do it, and what can founders learn from his experience?

1. Market Conditions Rarely Align Perfectly: Progress Often Requires Moving Ahead Despite Uncertainty

Bear markets are usually a time when founders retreat, conserve capital, or delay big launches. Lizarondo did the opposite. He saw that building during a downturn meant less noise, fewer competitors racing to capture attention, and more time to focus on product-market fit.

"Launching Swipe during a bear market wasn't about ignoring reality—it was about seeing beyond it," Lizarondo has said. By continuing development during slower periods, he ensured the company was prepared to respond when sentiment improved.

2. Solve a Real Problem

Swipe wasn't just another crypto wallet. It addressed a clear pain point: the gap between digital assets and real-world spending. While crypto was booming in speculation, it had little utility in everyday life. Swipe's stablecoin debit cards allowed users to convert and spend their holdings instantly, without waiting for lengthy cash-outs.

By emphasizing practical use cases, Lizarondo developed a product designed to maintain relevance through different market cycles. That focus on solving a tangible problem became the foundation of Swipe's eventual success and its later acquisition by Binance.

3. Leverage Partnerships Strategically

No fintech or crypto startup succeeds in isolation. From the start, Lizarondo understood the importance of integrating Swipe into existing financial and crypto ecosystems. Partnerships with payment processors, banking entities, and exchanges helped expand Swipe's reach and legitimacy.

These relationships provided not only infrastructure but also credibility—critical in an industry often clouded by skepticism. For founders, a key lesson is to work with partners whose strengths complement their own and support long-term objectives.

4. Resilience Matters More Than Timing

Launching in a bear market meant that every win came with twice the effort. Investor skepticism was higher, users were cautious, and the media narrative leaned pessimistic. For Lizarondo, resilience became the most valuable asset.

He often points out that setbacks are inevitable—what matters is maintaining belief in the mission and continuing to execute. In Swipe's case, this approach meant the company was positioned to meet rising demand for crypto payment options as markets recovered.

5. Think About Legacy, Not Just Exit

Although Swipe was eventually sold to Binance, Lizarondo's work left a lasting imprint on the industry. Today, real-time stablecoin spending is increasingly viewed as a baseline expectation for crypto payments. That legacy stems from a willingness to innovate under pressure.

For entrepreneurs, the lesson is to design with durability in mind, rather than tailoring solely to short-term market enthusiasm.

Launching a fintech in a bear market requires courage, clarity, and conviction. Joselito Lizarondo's journey shows that adversity can be the best proving ground for entrepreneurs who believe in their vision. The real lesson? Challenging periods can provide opportunities to focus on building without the distractions of rapid market speculation.