Nium, a Singapore-based finance business, has expanded its Banking-as-a-Service offerings to accommodate bitcoin purchases in the United States.

The new Crypto-as-a-Service offering’s initial API-based parts will enable financial institutions to add on-demand digital currency investing capabilities. In 2021, Paxos Crypto Brokerage’s digital currency investing services will support five digital currencies in the United States, with the list of available currencies rising to 20 in 35 nations by 2022.

Clients may incorporate capabilities to purchase, sell, and store cryptocurrency using a single API connection to Nium’s platform, including KYC, regulatory and compliance monitoring, brokerage, custody, and coin processing.

According to Prajit Nanu, co-creator and CEO of Nium, these first solutions will be followed by a plan of further cryptocurrency services, like stablecoin wallets and cryptocurrency payment facilitation.

Nium launches first global platform for Crypto-as-a-Service and extends

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

Nium’s modular platform, based in the United States, allows companies to pay and get paid worldwide with services like pay-outs, pay-ins, card issuance, and banking-as-a-service. Companies that connect to the Nium network may send money in over 100 currencies to over 190 nations, 85 of which are real-time. Southeast Asia, the United Kingdom, Hong Kong, Singapore, Australia, India, and the United States are some of the 27 markets where funds can be accepted. In addition, Nium’s rapidly expanding card issuing service is now accessible in 33 countries, including Europe, the United Kingdom, Australia, and Singapore.

The expansion to US markets comes after a $200 million fundraising round was completed in July.

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