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Ripple Partner Nium Set to Take on European Markets

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Fri, 04/29/2022 - 14:19
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Tomiwabold Olajide
Singaporean fintech company Nium leverages Ripple's blockchain technology
Ripple Partner Nium Set to Take on European Markets
Cover image via stock.adobe.com

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Ripple customer Nium is in talks to make an acquisition valued at over $400 million to drive further expansion in Europe, CEO and co-founder Prajit Nanu recently stated.

Singaporean fintech company Nium leverages Ripple's blockchain technology in the Philippines and Mexico corridors to offer remittances.

Nium reportedly is the first in the APAC region to offer corridors from North and South America to several Southeast Asian countries, thanks to RippleNet. Nium's footprint in Australia, Singapore and Malaysia has also been strengthened thanks to new network connections.

Ripple is continuing to expand throughout the Asia Pacific, with Korea as the next priority. According to Rahul Advani, head of Ripple's Asia-Pacific policy, the company plans to enter the Korean market in earnest this year. "Ripple is particularly interested in the Korean market," the top executive stated at the "The Future of Blockchain and Digital Assets in Korea" conference, which was hosted by Ripple, GBC Korea and Oxford Metrica and took place on April 27.

Advani also stated that the ongoing Ripple-SEC lawsuit has no impact on the adoption of Ripple's remittance platform, specifically On-Demand Liquidity (ODL).

Recent updates in the Ripple SEC case

In a recent ruling, Judge Analisa Torres of the United States District Court for the Southern District of New York established a briefing timetable for Ripple and the United States Securities and Exchange Commission.

On April 29, the parties presented a joint proposed schedule to the court for approval. After reviewing the parties' letter, Judge Torres ordered that all motions excluding expert testimony be fully briefed by the end of August.

Any motions for summary judgment must be filed by September 2022. Ripple and the Securities and Exchange Commission will have a little more than a month to file their oppositions and motions.

Motions for summary judgment must be fully briefed by Nov. 15, a month sooner than the original deadline specified by the parties.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.