Nium taps Coinbase to add USDC into global payments network
TL;DR
Nium has partnered with Coinbase to integrate USDC payments into its global network, enabling cross-border transactions in over 190 countries. This setup allows for just-in-time settlement and supports multiple currencies without the need for prefunded accounts.
Key points
- Nium partners with Coinbase for USDC integration
- Supports payments in over 190 countries
- Allows just-in-time settlement without prefunded accounts
- Network supports over 100 currencies
- Real-time payouts in more than 100 corridors
Mentioned in this story
Singapore fintech Nium has selected Coinbase to integrate USDC payments into its global network to send, receive and convert stablecoins to fiat across more than 190 countries through a single platform.
According to a Tuesday announcement, the integration uses Coinbase’s infrastructure for custody, liquidity and wallet services, enabling Nium’s customers to fund cross-border payouts in USDC and settle in either stablecoins or local currencies without relying on prefunded accounts.
Nium said the setup supports just-in-time settlement, allowing funds to be deployed at payout rather than held across multiple jurisdictions, and includes options to link stablecoin balances to card programs for real-world spending.
According to Nium, its network supports more than 100 currencies, with local collection in 40 markets, real-time payouts in over 100 corridors and more than 40 regulatory licenses worldwide.
The rollout follows the company’s recent launch of a platform that enables businesses to issue stablecoin-funded cards on Visa and Mastercard networks, with balances converted to fiat at the point of sale and settlement, compliance and integration handled through a single system.
USD Coin (USDC), a US dollar-pegged stablecoin launched in 2018 by Circle and Coinbase, is designed to maintain a 1:1 value with the dollar and is backed by cash and short-term US Treasury reserves.
According to DefiLlama data, it is the second-largest stablecoin by market capitalization, at around $78 billion, behind Tether’s USDT (USDT), which stands at roughly $188 billion.
Related: Iran views BTC as strategic asset, but USDt still dominates oil tolls: BPI
Circle expands USDC use in cross-border payments
Circle has been expanding USDC’s role in cross-border payments through a series of partnerships aimed at integrating stablecoin settlement into existing financial networks.
In March, the company teamed with Sasai Fintech to expand USDC payments across African corridors, targeting remittances, business transactions and mobile wallets. In parts of Sub-Saharan Africa, remittance costs exceed 7%, well above the UN’s 3% target.
Earlier this month, Circle teamed up with Thunes to expand USDC settlement across its global payments network, enabling near real-time cross-border transfers while reducing reliance on prefunded accounts. The integration extends USDC-based liquidity across Thunes’ network, which spans more than 140 countries.
Recent data shows increasing USDC activity. A CEX.IO report earlier this month found the stablecoin’s supply grew by about $2 billion in the first quarter, while Tether’s USDT declined by roughly $3 billion, marking a divergence between the two for the first time since 2022.
Magazine: Adam Back says current demand is ‘almost’ enough to send Bitcoin to $1M
Stablecoin market cap. Source: DefiLlama
Q&A
How does Nium's integration with Coinbase benefit USDC payments?
The integration allows Nium's customers to send, receive, and convert USDC to fiat across more than 190 countries, facilitating cross-border transactions without prefunded accounts.
What features does Nium's global payments network offer?
Nium's network supports over 100 currencies, real-time payouts in more than 100 corridors, and local collection in 40 markets, along with just-in-time settlement options.
What are the implications of using USDC for international payments?
Using USDC for international payments can streamline transactions, reduce reliance on traditional banking systems, and enable faster settlements across jurisdictions.
