Nium Unveils USDC Funding for Cross-Border Fiat Payouts

Nium, a digital cross-border payments company, has introduced a new feature that allows businesses to use USDC for cross-border fiat payouts in over 190 countries. This innovation enables companies to fund their accounts with USDC and automatically convert it into USD, which is then credited to the customer's Nium account.

The funds can be sent in local currencies through Nium's existing payment network without requiring additional integrations or crypto wallet management. Existing clients do not need to manage private keys as regulated infrastructure partners handle the receipt and conversion of USDC.

Kuberan Marimuthu, Vice President of Digital Assets at Nium, stated that 'Every business we talk to is sitting on the same problem in a different wrapper, they either have capital trapped in pre-funded accounts or stablecoin balances with nowhere useful to go.' He emphasized that this USDC funding solution solves both problems simultaneously.