Nium taps Coinbase to add USDC into global payments network
Bởi Ẩn danh
Nium integrates Coinbase’s infrastructure to enable USDC-based cross-border payments, allowing businesses to settle in fiat or stablecoins without relying on prefunded accounts.
Singapore fintech Nium has selected Coinbase to integrate USDC payments into its global network to send, receive and convert stablecoins to fiat across more than 190 countries through a single platform.
According to a Tuesday announcement, the integration uses Coinbase’s infrastructure for custody, liquidity and wallet services, enabling Nium’s customers to fund cross-border payouts in USDC and settle in either stablecoins or local currencies without relying on prefunded accounts.
Nium said the setup supports just-in-time settlement, allowing funds to be deployed at payout rather than held across multiple jurisdictions, and includes options to link stablecoin balances to card programs for real-world spending.
According to Nium, its network supports more than 100 currencies, with local collection in 40 markets, real-time payouts in over 100 corridors and more than 40 regulatory licenses worldwide.
The rollout follows the company’s recent launch of a platform that enables businesses to issue stablecoin-funded cards on Visa and Mastercard networks, with balances converted to fiat at the point of sale and settlement, compliance and integration handled through a single system.
USD Coin (USDC), a US dollar-pegged stablecoin launched in 2018 by Circle and Coinbase, is designed to maintain a 1:1 value with the dollar and is backed by cash and short-term US Treasury reserves.
According to DefiLlama data, it is the second-largest stablecoin by market capitalization, at around $78 billion, behind Tether’s USDT (USDT), which stands at roughly $188 billion.
Related: Iran views BTC as strategic asset, but USDt still dominates oil tolls: BPI
Circle has been expanding USDC’s role in cross-border payments through a series of partnerships aimed at integrating stablecoin settlement into existing financial networks.
In March, the company teamed with Sasai Fintech to expand USDC payments across African corridors, targeting remittances, business transactions and mobile wallets. In parts of Sub-Saharan Africa, remittance costs exceed 7%, well above the UN’s 3% target.
Earlier this month, Circle teamed up with Thunes to expand USDC settlement across its global payments network, enabling near real-time cross-border transfers while reducing reliance on prefunded accounts. The integration extends USDC-based liquidity across Thunes’ network, which spans more than 140 countries.
Recent data shows increasing USDC activity. A CEX.IO report earlier this month found the stablecoin’s supply grew by about $2 billion in the first quarter, while Tether’s USDT declined by roughly $3 billion, marking a divergence between the two for the first time since 2022.
Magazine: Adam Back says current demand is ‘almost’ enough to send Bitcoin to $1M
Source: CoinTelegraph
