• Nium, a fintech startup based in Singapore and valued at $2 billion, is set to go public in the US within two years.
• The company entered into a partnership with Ripple in 2020 to facilitate low-cost international transactions using Ripple’s technology.
• Ripple’s own plans to go public have been delayed due to an ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).
Nium Pte Set to Go Public After Valuation of $2 Billion
Singapore-based fintech firm Nium Pte, valued at $2 billion and backed by Singapore’s GIC and Temasek, is firming up plans for an IPO in the United States within two years. Nium aims to break even before its initial public offering (IPO) and is focused on being fully prepared over the next year and a half.
Collaboration With Ripple
Nium, formerly known as InstaReM, operates a robust platform that enables businesses to send, spend, and receive funds globally. In 2020, Nium entered into a partnership with Ripple, a prominent San Francisco-based blockchain company. The collaboration aimed to facilitate instant, low-cost international transactions using Ripple’s technology .
Ripple’s Legal Battle With SEC
However, Ripple’s own plans to go public have been overshadowed by an ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). Ripple CEO Brad Garlinghouse has expressed the company’s intent to pursue an IPO once the legal uncertainties with the SEC are resolved; however no final ruling has been made yet as of early July 2023.
Implications for ODL & XRP Adoption & Development
Nium’s decision to go public in the U.S carries significant implications for the adoption and development of Ripple’s On-Demand Liquidity (ODL) solution and its associated digital currency XRP . If successful this move could potentially foster wider acceptance of XRP as well as contribute towards further development of On Demand Liquidity solutions offered by ripple across international markets worldwide .
Nium’s forthcoming IPO in the US may provide much needed impetus for both adoption of XRP as well as further development of On Demand Liquidity solutions offered by ripple across international markets worldwide . This move will be closely watched by investors interested in cryptocurrency investments , especially those invested or looking to invest in XRP tokens .