Singapore-based fintech company Nium has partnered with cryptocurrency exchange Coinbase to integrate the USDC stablecoin into its global payment network.

 

The integration, announced this week, leverages Coinbase’s custody, liquidity, and wallet infrastructure, allowing Nium’s clients and users to perform cross-border payments in USDC and settle transactions in either stablecoins or local currencies.

 

 

As Coinbase will provide the wallet infrastructure, Nium clients will be able to fund accounts in USDC within a Coinbase wallet embedded in the Nium platform. The USDC can then be converted to fiat currency by Coinbase and paid out through Nium, all within a single workflow on the platform.

 

Through this partnership, Nium will enable end-to-end stablecoin-to-fiat payment flows that allow users to send, receive, and convert stablecoins into fiat across more than 190 countries within a single platform.

 

Speaking about the partnership, Prajit Nanu, CEO of Nium, said it is aimed at providing clients with a more efficient way to move and manage money globally. He added that the collaboration improves capital efficiency while supporting a future in which stablecoins play a central role in Nium’s payment stack.

 

About Nium 

Based in Singapore, Nium is a cross-border payments company that allows users, including retail and institutional clients, to perform cross-border remittances and transactions.

 

Apart from being a core traditional finance company, Nium has in the past made several pro-crypto moves, especially in the stablecoin space.

 

In March of this year, it launched a stablecoin card issuance platform that allows companies holding stablecoins to issue spending cards on both the Visa and Mastercard networks through a single API integration on its platform. To enable USDC settlements on its platform, Nium last year participated in Visa’s stablecoin settlement pilot, which eventually made it possible for the company to settle cross-border transactions using stablecoins across different supported blockchain networks.

 

Like Nium, several other Singapore-based traditional finance companies have taken pro-crypto steps in recent times, integrating blockchain technology and crypto support into their platforms. Notable among them is DBS Bank, Singapore’s largest bank, which launched the DBS Digital Exchange, a platform for asset tokenization, crypto trading, and custody.

 

Cryptocurrency exchanges, including Kraken, OKX, Binance, and Bybit, have also partnered with traditional finance institutions to help bridge the gap between traditional finance and decentralized finance.