LAS VEGAS, Oct. 25, 2021 /PRNewswire/ — MONEY 20/20 USA — Nium, a leader in global payments and card issuance for businesses, today launched the fintech industry's first global Crypto-as-a-Service (CaaS) solution and announced the extension of its Banking-as-a-Service (BaaS) solution to the U.S. Initial API-based elements from the new Crypto-as-a-Service offering will allow financial institutions to add in-demand capabilities for cryptocurrency investment. The cryptocurrency investment services will support five cryptocurrencies in the U.S. in 2021, with the list of supported currencies growing to 20 in 35 countries in 2022.
Nium's Crypto-as-a-Service platform launches at a time when crypto has emerged as one of the most popular investment asset classes. Total market capitalization of all cryptocurrencies totals US$2.19 trillion, making the asset class the world's 8th largest economy by gross domestic product.1 More than US$112 billion in cryptocurrency is traded per day. To help banks, businesses and neo-financial institutions quickly capitalize on this demand, Nium offers simple API-based access to its crypto investment services. Through one API connection to its platform, clients can embed capabilities to buy, sell, and hold crypto, all supported by Nium with KYC, regulatory and compliance monitoring, brokerage, custody, and …