• Nium, a cross-border payment and card issuance infrastructure provider, has launched its platform in the US, together with an API-based crypto-as-a-service offering.  

• The offering lets financial institutions embed crypto investment solutions, including buying, selling, and holding crypto, as well as support services such as know-your-customer (KYC), compliance monitoring, brokerage and custody services, etc. 

• The infrastructure will initially support five cryptocurrencies in the US in 2021 with plans to expand to 20 currencies in 35 countries by 2022. 

• Nium also intends to expand its crypto services to include stablecoin wallets and crypto payment acceptances in the future. 

<ul><li> Analyst QuickTake: The expansion to the US as well as the product expansion to include cryptocurrency solutions is in line with what the company indicated that its USD 200 million in Series D funding (raised three months ago) was earmarked for. Moreover, the company had also planned to use the funds for a possible expansion into Latin America as well as future strategic acquisitions.</ul>