Singaporean Payments Unicorn Nium Launches Crypto-as-a-Service Platform

Singapore-based funds unicorn Nium has rolled out a crypto-as-a-service (CaaS) providing geared toward monetary establishments.

  • Nium supplies turn-key purpose-built API suites for brand spanking new and conventional finance firms. Its newest providing seeks to supply ready-made instruments amid a interval of excessive demand in crypto.
  • The firm stated its new CaaS will present establishments with “in-demand capabilities” for crypto funding and initially helps as much as 5 cryptos, based on an announcement on Monday.
  • Through an API connection to its platform, the agency says its purchasers can embed crypto market companies, together with KYC, regulatory monitoring, brokerage, custody, and processing.
  • Nium has determined to launch its product all through the U.S. with an extra 15 cryptos anticipated to be added to be added to the service by subsequent yr. Another 25 international locations and jurisdictions are anticipated to be supported by subsequent yr, together with Australia, Singapore and Hong Kong.
  • In July, Nium secured $200 million in fresh funding led by tech investor Riverwood Capital receiving unicorn standing with a valuation above $1 billion.
  • “Our world purchasers are searching for an increasing number of methods to distinguish their core choices,” stated Prajit Nanu, co-founder and CEO at Nium. “We provide entry to modular fintech components for funds and card issuing – and now, crypto.”

Read extra: Crypto as a Payment System? Here We Go Again

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