Nium Unveils Stablecoin-Focused Funding Program to Streamline Cross-Border Payments

Nium, a cross-border payments company, has launched a stablecoin-focused funding program called USDC funding. This new offering allows businesses to finance their Nium accounts with the USDC stablecoin and pay out in fiat currency. According to Kuberan Marimuthu, vice president of digital assets at Nium, this move addresses two major issues: prefunding accounts in every market and converting stablecoin balances into usable funds.

The company's announcement stated that businesses no longer have to choose between the speed of stablecoins and the reach of traditional rails. With USDC funding, clients can now use their existing digital assets to access Nium's payout network without needing to convert them first.

Nium's new offering is part of its larger digital asset strategy, which includes a platform for stablecoin-backed card issuance that was debuted in March. The company claims that this launch will help businesses put idle money to work and provide the best of both worlds: speed and reach.