Nium has acquired Cypher, a crypto-native non-custodial wallet and card issuing company, to strengthen its role as core infrastructure bridging fiat money and digital assets across global payment networks.
The deal builds on Nium’s recent launch of stablecoin-backed card issuing and support for cross-border payments funded and settled with stablecoins, which has increased demand from Web3 companies and traditional fintechs moving into digital assets. Cypher adds experience in building products for crypto-native users and navigating blockchain-specific technical requirements, which Nium expects will help it move faster in this market.
Cypher’s founder, Kuberan Marimuthu, has joined Nium as Vice President of Digital Assets, along with Cypher’s engineering team. Nium said it will extend its security, compliance, and reliability framework from traditional payments to on-chain transactions as it works to become the orchestration layer for money movement across fiat and digital currencies.
KEY QUOTE:
“Money should move as fast as and with as much precision as data, regardless of origin or destination, be it human or machine, consumer or business, local or cross-border, wallet or bank account. Today it doesn’t. Payouts get stuck in the correspondent banking flows. Trillions sit idle in nostro accounts for days at a time. We’re building the critical infrastructure to drive this change, and the Cypher acquisition gives us the muscle to accelerate what we build.”
Prajit Nanu, CEO of Nium
