The API-based «crypto-as-a-service» platform will allow financial institutions to integrate popular crypto capabilities into their financial applications.
Nium is adding capabilities to allow financial institutions the ability to buy, sell, and hold the most popular digital assets, the payments startup announced in a statement.
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 will support clients with KYC, regulatory and compliance monitoring, brokerage, custody, and processing of the cryptocurrency, and is planning future service elements to allow for stablecoin wallets, as well as crypto acceptance, the announcement said.
Growing Acceptance
Nium noted the emergence of crypto as one of the most popular investment asset classes and said it wants to help banks, businesses and neo-financial institutions quickly capitalise on this demand.
«Our global clients are seeking more and more ways to differentiate their core offerings with the most innovative fintech services,» Prajit Nanu, co-founder and CEO at Nium, said.
Nium also said it would be extending its complete banking-as-a-service solution to the U.S. and add card issuing capabilities for clients there.
