Nium Acquires Cypher to Bridge Fiat and Digital Asset Payments

Nium, a cross-border payments infrastructure company, has acquired Cypher, a crypto-native non-custodial wallet and issuing company backed by Y Combinator and Coinbase Ventures.

The acquisition aims to bridge fiat and digital asset payments infrastructure for Nium. This move comes after the launch of stablecoin-backed issuing products and the extension of its cross-border payment network to support funding and settlement with stablecoins.

Nium's CEO, Prajit Nanu, emphasized the need for seamless and precise transactions between fiat and digital assets, stating 'money should move as fast as and with as much precision as data regardless of origin or destination.'

Cypher brings operational knowledge of building and scaling products for crypto-native users while navigating the technical requirements of the blockchain ecosystem.