Nium Launches Crypto As a Service Platform in the U.S

Nium Launches Crypto As a Service Platform in the U.S

Singapore’s payment unicorn Nium,  today launched its Crypto-as-a-Service (CaaS) solution. Initial API-based elements from the new Crypto-as-a-Service offering will allow financial institutions to add in-demand capabilities for cryptocurrency investment.

The cryptocurrency investment services will support five cryptocurrencies in the U.S. in 2021 and selected Asia Pacific countries such as Singapore, Australia and Hong Kong in 2022, with the list of supported currencies to reach 20 across 35 countries in 2022.

Nium’s Crypto-as-a-Service platform launches at a time when crypto has emerged as one of the most popular investment asset classes. According to the 2021 Independent Reserve Cryptocurrency Index, 46% of Singaporeans plan to buy cryptocurrency in the next 12 months. Total market capitalisation of all cryptocurrencies totals US$2.19 trillion, making the asset class the world’s 8th largest economy by gross domestic product. More than US$112 billion in cryptocurrency is traded per day.

To help banks, businesses and neo-financial institutions quickly capitalise on this demand, Nium offers API-based access to its crypto investment services. Through one API connection to its platform, clients can embed capabilities to buy, sell, and hold crypto, all supported by Nium with KYC, regulatory and compliance monitoring, brokerage, custody, and processing of the cryptocurrency. These initial offerings will be followed by a roadmap of additional crypto services, including stablecoin wallets and crypto payment acceptance.

Prajit Nanu

Prajit Nanu

Our global clients are seeking more and more ways to differentiate their core offerings with the most innovative fintech services,”

said Prajit Nanu, Co-Founder and CEO at Nium.

“Our embedded finance solutions accelerate the road to innovation for all businesses. With seamless API-based connections, we offer access to modular fintech elements for payments and card issuing – and now, crypto. The elements can be embedded, fast and easy, into most applications, helping companies go further, faster.”

 

This article first appeared on fintechnews.sg

Featured image: Prajit Nanu, Co-Founder and CEO at Nium

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