Nium has partnered with the Stellar Development Foundation (SDF), a non-profit that supports the growth of public blockchain Stellar, to enable payouts to 190 countries. According to Nium by leveraging Stellar the payments and transfers improve upon the traditional correspondent banking system.
Joaquin Auyso, Head of Nium Crypto, said that Nium is able to boost the speed of payouts around the world:
“Our approach to 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.”
Nium will now be able to provide clients on the Stellar network with a suite of payment services that can scale globally. By using Nium, businesses are not required to build their own payment infrastructure. Nium notes that it holds regulatory licenses and authorizations in over 40 countries.
“This integration truly drives home the value that blockchain-powered cross-border payment solutions bring to the current financial system,” said Denelle Dixon, CEO and Executive Director of SDF. “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.”