Nium Launches World’s First Crypto-Service Platform and Expands Bank-as-a-Service Solution to U.S.
– 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: October 25, 2021 at 5:01 a.m. EDT|Update: 48 minutes ago
LAS VEGAS, 25 October 2021 / PRNewswire / – SILVER 20/20 United States – Nium, a global leader in business payments and card issuance, today launched the world’s first Crypto-as-a-Service (CaaS) solution for the FinTech industry and announced the expansion of its solution Banking-as-a-Service (BaaS) in the United States Initial API-based elements of the new Crypto-as-a-Service offering will allow financial institutions to add on-demand capacity for crypto investments -cash. 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’s Crypto-as-a-Service platform is launched at a time when crypto has become one of the most popular investment asset classes. Total market capitalization of all cryptocurrency totals 2.19 trillion US dollars, making this asset class the 8th largest economy in the world in terms of gross domestic product.1 More … than $ 112 billion in cryptocurrency is traded 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 seamless API-based connections, we offer access to modular fintech elements for payments and card issuance – and now, crypto. 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, a regulated enterprise level solution.
- Support for Stablecoin: Provide clients with a stablecoin investment option. Nium supports Pax Dollar USDP (powered by Paxos) which is regulated and 100% backed by US dollars and cash equivalents, allowing end users to immediately trade between the stable currency and other cryptocurrencies.
- Cryptocurrency Compliance Services: Integrate services quickly and easily, with out-of-the-box compliance services including KYC and AML monitoring, and Nium manages crypto brokerage, custody and processing for clients.
- Available now: Be one of the first companies to access this service now in the United States 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 to United States. Nium has one of the most comprehensive solutions in the world for payments, payments and card issuance. Each of these solutions can be integrated either as stand-alone services or as part of a complete Banking-as-a-Service suite. 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, Nium’s announcement today signals that the company is on track for success in the world’s largest market, particularly with the new inclusion of card issuance in its US offering. According to IBIS World, the market for credit card issuance in the United States is estimated at 156.7 billion US dollars, up 10.3% year-on-year in 20212. This massive market is poised for continued growth as more and more cards are released to meet the needs of niche consumer segments. 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 all of your questions 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 /.
Nium is a leading integrated fintech company that provides banks, payment 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 the United States. Nium’s growing card issuance activity is already available in 33 countries, including Europe (SEPA), the United Kingdom, 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
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