PANews reported on June 5 that according to CNBC, Singaporean fintech startup Nium announced the completion of a new round of financing of US$50 million and plans to IPO in the next 18 months. This round of financing was led by an undisclosed Southeast Asian sovereign wealth fund and supported by venture capital institutions BOND, NewView Capital and Tribe Capital. The company is valued at US$1.4 billion, a 30% discount from its previous valuation.
It is reported that Nium launched a crypto-as-a-service (CaaS) product for financial institutions in 2021, and announced in 2022 that it would cooperate with BitPay to provide crypto payments for merchants.