Nium, a cutting-edge API-based platform, will be the first to enable banks and other financial institutions to include crypto capabilities in their apps. These will include the ability to store, purchase, and sell popular cryptocurrencies. Nium will eventually support stablecoin wallets.
Furthermore, the global payments and card issuance leader for businesses is expanding its card issuing capabilities in the United States, expanding a full suite of global banking-as-a-service solutions.
By 2022, 20 cryptocurrencies will be supported in 35 countries.
This year, Nium’s service in the United States will support five cryptocurrencies. They will reach 20 in 35 countries by next year. With a total market cap of $2.19 trillion in cryptos, there is no better time for Nium’s platform to launch. As a result, this asset class has become the world’s eighth largest economy in terms of GDP.
Compliance monitoring is used to support cryptocurrency exchanges.
Users can hold and trade crypto with custody, brokerage, KYC, regulatory and compliance monitoring, and crypto transaction processing via a single API connection to Nium’s platform. Paxos Crypto Brokerage, a regulated enterprise-grade solution, powers these services.
Nium cofounder and CEO Prajit Nanu stated:
Our global clients are looking for new ways to differentiate their core offerings by incorporating the most cutting-edge fintech services. Our embedded finance solutions help all businesses accelerate their path to innovation. We provide access to modular fintech elements for payments and card issuing – and now, crypto – through seamless API-based connections. The elements can be quickly and easily embedded into most applications, allowing businesses to go further and faster.
The most comprehensive payout and pay-in solution available anywhere in the world.
Nium has one of the most comprehensive card, withdrawal, and deposit solutions in the world. Any of these solutions can be integrated as part of a larger banking-as-a-service suite or as standalone services. The platform allows for real-time payouts to 85 countries and up to 190 total payouts in more than 100 currencies. It allows for pay-ins to 35 markets.
Last but not least, Nium backs the Pax Dollar (USDP/USD), which is fully backed by the USD and cash equivalents.