en.Wedoany.com Reported - Cross-border payment infrastructure provider Nium has announced the acquisition of crypto-native non-custodial wallet and card issuance company Cypher, aiming to expand its business into a core infrastructure layer for compliant fund transfers and value exchange between fiat and digital assets.
Since launching stablecoin-enabled card products and extending its cross-border payment network to stablecoin funding and settlement, Nium has attracted consumer-facing Web3 companies and traditional fintech firms expanding into the digital asset space. These companies require sophisticated card issuance, global fund transfer infrastructure, and seamless integration between fiat and digital assets.
The acquisition of Cypher brings Nium the operational knowledge needed to build and scale products for crypto-native users, including addressing the technical requirements of the blockchain ecosystem. This capability enables Nium to deliver products to emerging customer segments more quickly. Underpinning this capability is the security, compliance, and reliability architecture that Nium has embedded in its global payment infrastructure, now extended to on-chain transactions.
Founded by Kuberan Marimuthu and backed by Y Combinator and Coinbase Ventures, Cypher has spent the past four years focusing on building products at the intersection of on-chain and traditional banking operations. Marimuthu, who previously held payment and risk engineering leadership roles at Coinbase, Amazon, and Zenefits, has joined Nium as Vice President of Digital Assets, reporting to CEO Prajit Nanu. Cypher's engineering team has also joined Nium.
Prajit Nanu, CEO of Nium, stated that money should flow as quickly and precisely as data, regardless of source or destination, local or cross-border, wallet or bank account. Currently, payments are stalled in correspondent banking processes, with trillions of dollars sitting idle in nostro accounts for days. The acquisition of Cypher helps accelerate the building of the necessary infrastructure.
This acquisition reflects Nium's philosophy of prioritizing the most difficult problems while balancing customer and ecosystem needs. Nium brings digital asset expertise into the infrastructure layer, providing the security, compliance, and programmability required by Web3 companies and the financial services ecosystem, creating an intelligent orchestration infrastructure for fund transfers and value exchange spanning fiat and digital currencies across multiple networks and chains.
Nium is building the infrastructure that enables money to flow as freely as information. Its global compliance platform provides banks, fintech companies, and enterprises with the rails to collect, convert, send, and spend funds across currencies, borders, and blockchains. Nium's cross-border payment network covers 100 currencies and over 190 countries, with real-time settlement supported in more than 100 countries, and funds can be disbursed to bank accounts, wallets, and cards.
