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.

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.

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:

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

The post Nium introduces first global crypto as a service platform, closing gap between DeFi and CeFi appeared first on Invezz.

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