Nium Launches World’s First Crypto-Service Platform and Expands Bank-as-a-Service Solution to U.S.

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– The new Nium API-based Crypto-as-a-Service platform is the first to enable financial institutions to integrate popular crypto capabilities into their financial applications, including the ability to buy, sell and own the most popular digital assets; future elements of service will enable stable wallets, as well as acceptance of crypto

Posted: Oct 25, 2021 at 4:01 am CDT | Updated: 1 hour ago

LAS VEGAS, Oct.25, 2021 / PRNewswire / – MONEY 20/20 USA – Nium, a global leader in business payments and card issuance, today launched the world’s first Crypto-as-a-Service (CaaS) global FinTech industry. solution and announced the extension of its Banking-as-a-Service (BaaS) solution in the United States The initial API-based elements of the new Crypto-as-a-Service offering will allow financial institutions to add on-demand capacities for cryptocurrency investing. Cryptocurrency investment services will support five cryptocurrencies in the United States in 2021, with the list of supported currencies increasing to 20 in 35 countries in 2022.

Nium is a world leader in payments and card issuance for businesses.

Nium’s Crypto-as-a-Service platform is launched at a time when crypto has become one of the most popular investment asset classes. The total market capitalization of all cryptocurrencies is US $ 2.19 trillion, making this asset class the 8th largest economy in the world in terms of gross domestic product.1 Over US $ 112 billion in cryptocurrency are exchanged daily. To help banks, businesses and neo-financial institutions quickly capitalize on this demand, Nium offers simple API-based access to its crypto investment services. Through an API connection to its platform, customers can integrate crypto buying, selling and custody capabilities, all supported by Nium with KYC, regulatory and compliance oversight, brokerage, custody and processing. of cryptocurrency. These initial offers will be followed by a roadmap of additional crypto services, including stablecoin wallets and acceptance of crypto payments.

“Our global customers are increasingly looking for ways to differentiate their core offerings with the most innovative fintech services,” said Prajit Nanu, co-founder and CEO of Nium. “Our integrated financing solutions accelerate the path of innovation for all businesses. With transparent API-based connections, we provide access to modular fintech elements for payments and card issuance – and now, the cryptography. The elements can be integrated, quickly and easily, into most applications, helping businesses go further, faster. “

Nium’s Crypto-as-a-Service solution includes:

Comprehensive Cryptocurrency Investment Services: Integrate cryptocurrency investment services into any app, including the ability to buy, sell, and hold popular digital currencies, such as Bitcoin, Ethereum and Litecoin. These services are powered by Paxos Crypto Brokerage, an enterprise-level regulated solution.Stablecoin Support: Providing clients with a stablecoin investment option. Nium supports Pax Dollar USDP (powered by Paxos) which is 100% regulated and backed by US dollars and cash equivalents, allowing end users to immediately trade between stable currency and other cryptocurrencies. on-the-go compliance services including KYC and AML monitoring, and Nium dealing with crypto brokerage, custody and processing for clients. Available Now: Be one of the first companies to access this service in the US now https: // www. nium.com/crypto-as-a-service/

Nium’s Banking-as-a-Service suite expands to the United States

Nium also announced the extension of its complete Banking-as-a-Service solution in the United States. Nium has one of the world’s most comprehensive solutions for payments, payments and card issuance. Each of these solutions can be integrated either as stand-alone services or as part of a complete suite of banking as a service. Nium supports payments in 190 countries (85 in real time) in more than 100 currencies and payments in 35 markets. On the card issuance front, Nium’s reach extends to 33 countries – already issuing 31 million physical and virtual cards worldwide. All of this is supported by 11 global financial licenses and a robust suite of regulatory and compliance technologies.

After rapid growth in APAC and Europe, today’s announcement by Nium indicates that the company is on track to succeed in the world’s largest market, particularly with the new inclusion of card issuance in its American offer. According to IBIS World, the US credit card issuance market is estimated at US $ 156.7 billion, growing 10.3% from the previous year in 20212. This massive market is poised for continued growth as more and more cards are launched to serve a niche customer segment. Needs. Nium helps companies get new card products to market quickly, in as little as four weeks, all with a single API connection.

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To find out more, visit Nium at booth 2341 at Money 20/20 where experts will be on hand to answer any questions you have about global payments, crypto and card issuance. Visit www.nium.com for industry resources, including our latest white paper – A Vision for the Future of Frictionless Commerce: Simple, Seamless, and Scalable Global Payments and Card Issuance: https: //www.nium. com / future-of -Payments /.

About Nium

Nium is a leading integrated fintech company that provides banks, payment service providers and businesses of all sizes with access to global payment services through a single API. Its modular platform powers frictionless commerce, helping pay and get paid businesses around the world with payment, payment, card issuance and banking as a service. Once connected to the Nium platform, companies can pay in more than 100 currencies to more than 190 countries, including 85 in real time. Funds can be received in 27 markets, including South East Asia, UK, Hong Kong, Singapore, Australia, India and USA. Nium’s growing card issuance business is already available in 33 countries, including Europe (SEPA), UK, Australia and Singapore. Nium has the broadest license portfolio, covering 11 of the world’s jurisdictions, enabling transparent global payments and rapid integration, regardless of geography.

Nium was named in the CB Insights Fintech 250 (2020, 2021), which highlights the world’s most promising Fintech companies. For more information visit: https://www.nium.com

1 https://coinmarketcap.com/

2 https://www.ibisworld.com/industry-statistics/market-size/credit-card-issuing-united-states/

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