Fintech firm Nium Pte, valued at $2 billion, sets sights on a US IPO by Q2, 2025
The company, which is currently valued at approximately $2 billion, is aiming to break even before its planned initial public offering .
CEO Prajit Nanu emphasized that forecasting market trends is beyond anyone's control, but their main goal over the next year and a half is to be thoroughly prepared. Nium, formerly known as InstaReM, operates a platform that enables businesses to send, spend and receive funds around the globe.In 2020, it entered into a partnership with prominent San Francisco-based blockchain company Ripple. The tie-up was designed to facilitate instant, low-cost international transactions.Ripple has been eyeing the horizon of going public. However, a legal storm brewing with the U.S. Securities and Exchange Commission has cast a cloud over these plans.
This legal tug-of-war has been in play for nearly three years, and Ripple is hopeful for a resolution within the year. However, despite Garlinghouse's prediction about the case coming to an end in the first half of 2023, there is no final ruling as of early July.
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