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Nium Collaborates with Stellar Development Foundation

www.financemagnates.com 23 June 2022 10:18, UTC
Reading time: ~2 m

Nium, an international platform for the modern money movement, yesterday announced that it has formed a collaboration with the Stellar Development Foundation to enable payouts in 190 countries around the world.

The partnership will facilitate businesses in different countries through fast and efficient payment infrastructures. Through the collaboration, Nium will be able to assist clients on the Stellar network via a suite of payment services.

The latest announcement from Nium came almost 5 weeks after the payment company announced the expansion of its services in Malaysia. Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation, said that the partnership will boost the adoption of blockchain technology in cross-border payments.

"This integration truly drives home the value that blockchain-powered cross-border payment solutions bring to the current financial system. At SDF, we are always working to fill up the map and connect the network to more of the globe. Together with Nium, we are thrilled to expand the reach of the Stellar network so significantly,” Dixon said in an official press release.

Cross-Border Payments

The global volume of cross-border payments has increased sharply in the past few years after a jump in e-commerce and international remittances. With that, the demand for low-cost cross-border payment solutions has also spiked. Joaquin Auyso, Head of Nium Crypto, said that businesses around the world will be able to take advantage of innovative solutions from the company to move international payments smoothly.

"The scale at which Nium is able to offer cross-border payouts around the world is further enhanced by the speed with which we are able to deliver payments for businesses. Our approach to the modern money movement on Stellar innovates on legacy approaches well past their prime. It showcases both Nium's global reach and real-time payment capabilities to a thriving network of business leaders and innovators,” Auyso explained.

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