Nium introduces first global crypto as a service platform, closing gap between DeFi and CeFi

Nium, an innovative API-based platform, will be the first to allow banks and other financial institutions to include crypto capacities in their apps. These will include the ability to hold, buy, and sell popular cryptos. In the future, Nium will also enable stablecoin wallets.

In addition, the leader in global payments and card issuance for businesses is adding card issuing capabilities in the US, thereby expanding a full-range suite of global banking-as-as-service solutions.

20 cryptocurrencies supported in 35 countries by 2022  

Nium’s service in the US will support five cryptocurrencies this year. Next year, they will reach 20 in 35 countries. There is no better time for Nium’s platform to launch with the total market cap of cryptos totaling $2.19 trillion. With that, this asset class has become the eighth biggest economy by GDP in the world.

Crypto exchange supported with compliance monitoring

Through a single API connection to Nium’s platform, users can hold and trade crypto with custody, brokerage, KYC, regulatory and compliance monitoring, and crypto transaction processing. These services are powered by Paxos Crypto Brokerage, a regulated enterprise-grade solution.

Prajit Nanu, Nium cofounder and CEO, said:

Most comprehensive payout and pay-in solution across the globe

Nium has one of the most comprehensive solutions for issuing cards, withdrawals, and deposits in the world. It’s possible to integrate any of these solutions either as elements of a full-scale banking-as-a-service suite or as individual services. The platform enables payouts to 85 countries in real time and up to 190 in total, in more than 100 currencies. It supports pay-ins to 35 markets.

Last but not least, Nium supports the Paxos-supported Pax Dollar (USDP/USD), which is fully backed by the USD and cash equivalents.