Singaporean fintech company Nium with crypto business completes $50 million financing

Bitget App

Trade smarter

Cointime2024/06/05 05:22

By:Cointime

According to CNBC, Singaporean fintech startup Nium announced the completion of a $50 million new round of financing and plans to go public within the next 18 months. This round of financing was led by an undisclosed Southeast Asian sovereign wealth fund and supported by venture capital firms BOND, NewView Capital, and Tribe Capital. The company is valued at $1.4 billion, a 30% discount from its previous valuation.Nium CEO and founder Prajit Nanu said he is not interested in acquiring companies in the cryptocurrency field because he has not yet seen a demand from merchants for cryptocurrency as a payment method.It is reported that Nium launched a Cryptos-as-a-Service (CaaS) product for financial institutions in 2021 and announced a partnership with BitPay to provide cryptocurrency payments for merchants in 2022.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!

European Central Bank President Christine Lagarde said bitcoin is not an option as a reserve asset for the Eurozone’s central bank reserves, citing liquidity, security and regulatory concerns.Meanwhile, the Czech National Bank approved a proposal from Governor Aleš Michl to assess diversifying some of its country’s reserves into bitcoin.

The Block•2025/01/30 21:34