Ripple Technology user Singaporean platform Nium planned to expand its network in the European market.
Nium is a modern, modular firm for global business payments. This company helps businesses to expand reach with ease and also streamline local payments, improve customer experiences with unlock of new revenue systems for them. The platform allows easy delivery of payment and card issuance solutions across huge numbers of countries. Nium uses Ripple’s technology to make the payment system much better and more competitive.
Prajit Nanu, Chief executive officer and founder of Nium, stated that they are looking to make an acquisition worth $400 million to drive a further network expansion of the company in Europe.
With the help of blockchain Fintech firm Ripple, Nium provides cross-border payment services across the Philippines and Mexico corridors. Due to better networks, Medium has better standing with its services in Australia, Singapore, and Malaysia.
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Recently Rahul Advani, the head of Ripple’s Asia-Pacific policy, stated that they are working to expand the reach of company in the Asia Pacific region and they are strongly targeting the Korean market. According to Rahul, Ripple will expand its network in the Korean Market shortly.
Rahul also noted that the Ripple vs SEC lawsuit will not impact the adoption of Ripple’s resources and ecosystem because of its better remittances services.
Ripple vs SEC
Ripple is a San Francisco-based Fintech firm. In December 2020, US Securities and Exchange Commission (SEC) filed its lawsuit against the Ripple company.
As per the filed lawsuit, the SEC agency claimed that Ripple’s XRP token is a security, which is still unregistered with the SEC agency.
Through the lawsuit, the SEC agency also stated that the Company sold more than $1.3 billion worth of XRP tokens publicly, which was further unfair activities and was against securities law.
Read also: Indian E-commerce giant Flipkart jumps into Metaverse & Web3.0
Ripple Partner Nium Seeks to expand the network in Europe
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