Singaporean Funds 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 corporations. Its newest providing seeks to offer ready-made instruments amid a interval of excessive demand in crypto.
  • The corporate mentioned its new CaaS will present establishments with “in-demand capabilities” for crypto funding and initially helps as much as 5 cryptos, in keeping with a press release on Monday.
  • By means of an API connection to its platform, the agency says its shoppers can embed crypto market providers, 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. One other 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 shoppers are searching for increasingly more methods to distinguish their core choices,” mentioned Prajit Nanu, co-founder and CEO at Nium. “We provide entry to modular fintech parts for funds and card issuing – and now, crypto.”

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