In order to transmit, receive, and convert stablecoins to fiat across more than 190 countries using a single platform, Singapore fintech Nium has chosen Coinbase to include USDC payments into its worldwide network.
Customers of Nium may fund cross-border payouts in USDC and settle in either stablecoins or local currencies thanks to the integration, which makes use of Coinbase’s infrastructure for custody, liquidity, and wallet services, according to a Tuesday release.
Santhosh Srinivasan, VP of Treasury at Nium, told the media that traditional cross-border payment methods frequently require businesses to prefund accounts across various jurisdictions, locking up capital until transactions settle across time zones and financial networks.
According to him, the new integration enables customers to transfer dividends worldwide, fund accounts on demand using USDC, and convert to fiat in a single managed flow.
Every day of the week, at any time of day, and without the need for correspondent banking chains or multi-step manual conversions, all of this occurs almost instantaneously, leaving no capital idle.
The configuration offers alternatives to connect stablecoin holdings to card programmes for actual spending, the company claimed.
Nium claims that their network has more than 40 regulatory licenses globally, supports more than 100 currencies, facilitates local collection in 40 regions, and delivers real-time payouts in more than 100 corridors.
Source: X.com
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