InstaReM, a digital cross-border payments provider, has announced its rebranding plan to to become part of Nium.
InstaReM is backed by investors including Vertex Ventures, Fullerton Financial Holdings, Rocket Internet and MDI Ventures, and is currently regulated in the U.S., the European Union, Singapore, Canada, Hong Kong, India, Australia and Malaysia, processing billions of dollars a year for banks, payment institutions and retail users around the world.
Nium is the first global payments that allows a wide range of payment services from around the world, and its services are grouped into three categories: send, spend and receive. Also, Nium is one of the first organizations to partner with Visa’s FinTech Fast Track program in the EU, Australia and the Asia Pacific region.
Prajit Nanu, co-founder and CEO of Nium, said in an emailed press release, “As we look to the future, our strategy is to move beyond merely creating services on our own proprietary platform. We have worked really hard in the last four years to build new capabilities that open a world of possibilities in the global payments universe. To express our broader capabilities to the world, and to engage more directly to our existing and future enterprise partners, we have rebranded InstaReM to Nium. We aspire to become enablers; creators of an open platform that businesses and partners use to build a world free of old constraints and restrictions — a true world of Open Money.”
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