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Nium, a Singaporean unicorn in the payments industry, has launched a crypto-as-a-service platform.

Nium, a payments unicorn based in Singapore, has rolled out a crypto-as-a-service (CaaS) offering aimed at financial institutions.

• Nium offers turnkey API suites for both new and established financial institutions. Its most recent release aims to give ready-to-use solutions at a time when cryptocurrency is in high demand.
• The company's new CaaS will give institutions with "in-demand capabilities" for crypto investing and would initially support up to five cryptos, according to a statement on Monday.
• The company claims that its clients may include crypto marketplace services, as well as KYC, regulatory monitoring, brokerage, custody, and processing, via an API link to its platform.
• Nium has opted to roll out its product across the United States, with a total of 15 cryptos scheduled to be added to the service by the end of the year. By next year, another 25 countries and jurisdictions, including Australia, Singapore, and Hong Kong, are scheduled to be supported.
• Nium secured $200 million in new fundraising in July, led by tech investor Riverwood Capital, and was awarded unicorn status with a valuation of more than $1 billion.
• Prajit Nanu, co-founder and CEO of Nium, said, "Our worldwide clientele are seeking more and more ways to differentiate their core offers." "We provide access to modular fintech pieces for payments and card issuing, as well as crypto," says the company.