Nium becomes first fintech to join the
blockchain-based network, enabling faster cross-border payments,
added market reach, and greater transaction transparency
SINGAPORE, Nov. 5, 2024
/PRNewswire/ -- Nium, the leading global infrastructure for
real-time cross-border payments, today announced a partnership with
Partior, the blockchain-based fintech for clearing and
settlement at the Singapore Fintech Festival 2024. The partnership
makes Nium the first fintech payment service provider (PSP) on the
Partior network. Financial institutions will be able to connect
with Nium via Partior for 24x7, transparent, real-time payouts,
clearing, and settlement to over 100 markets worldwide.
Importantly, the connection will require no additional API
integration work, streamlining what historically took months of
resource-intensive work.
This new partnership builds on Nium's recent strategy to connect
more networks to its real-time payments' infrastructure. By joining
the Partior network, Nium is extending its connectivity to one of
the most innovative networks in the industry. Partior's
blockchain-powered platform effectively resolves longstanding
inefficiencies in global payments, such as settlement delays, high
costs, and limited transaction transparency. In today's global
landscape, where companies operate around the clock, effective
liquidity management is essential for both corporate and financial
institutions. This collaboration allows Nium to offer its clients
the ability to execute real-time multi-currency payments and
Payments versus Payments (PvP) settlements, further simplifying
access to its global payments network.
"Nium's partnership with Partior brings us closer to becoming
the most connected payments network globally. By integrating with
advanced networks, such as Partior, we are ensuring that financial
institutions can quickly and easily access our real-time payments
infrastructure without the need for complex technical
integrations," said Alexandra
Johnson, Chief Payments Officer at Nium. "Recognizing how
resource-constrained financial institutions are, we're eliminating
barriers to using our network and increasing interoperability to
deliver on our mission of having seamless and streamlined real-time
payments to anyone, anywhere."
Humphrey Valenbreder, Chief Executive Officer at Partior said,
"Partnering with Nium marks a significant step in our journey to
further advance the global payments landscape. By combining
Partior's real-time blockchain settlement network with Nium's vast
global reach, we're empowering financial institutions to break down
long-standing barriers. Imagine a world where cross-border payments
are instantaneous, transparent, and accessible to all. This is the
future we're building together."
As part of its continued expansion, Nium's partnership with
Partior enhances its ability to facilitate frictionless global
transactions and unlock new services such as intra-day FX swaps,
cross-currency repos, programmable enterprise liquidity management,
and Just-in-Time multi-bank payments for financial institutions
worldwide.
Nium's growing network, supported by these strategic
partnerships, is setting a new standard for how financial
institutions can access and benefit from global payments, paving
the way for a more efficient and transparent financial
ecosystem.
About Nium
Nium, the leading global infrastructure for real-time
cross-border payments, was founded on the mission to deliver the
global payments infrastructure of tomorrow, today. With the onset
of the global economy, its payments infrastructure is shaping how
banks, fintechs, and businesses everywhere collect, convert, and
disburse funds instantly across borders. Its payout network
supports 100 currencies and spans 220+ markets, 100 of which in
real-time. Funds can be disbursed to accounts, wallets, and cards
and collected locally in 40 markets. Nium's growing card issuance
business is already available in 34 countries. Nium holds
regulatory licenses and authorizations in more than 40 countries,
enabling seamless onboarding, rapid integration, and compliance –
independent of geography. The company is co-headquartered in
San Francisco and Singapore.
About Partior
Partior, the blockchain-based fintech for clearing and
settlement, is redefining the way value moves globally. Founded in
2021, Partior is backed by founding shareholders DBS, J.P. Morgan,
Standard Chartered, and Temasek, and Series B lead investor Peak
XV. Partior is addressing the operating inefficiencies experienced
by industry players, including settlement delays, limited
transaction transparency and high operating costs, and facilitates
the movement of liquidity for financial institutions and their
customers. Its network offers real-time multi-currency payments,
and Payments versus Payments (PvP) settlement. Additionally, it is
exploring new services including Intra-day swaps, Delivery versus
Payments (DvP) settlement and enterprise solutions.
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SOURCE Nium