RippleNet helps Singaporean start-up to successfully merge into Southeast Asia markets
In the recent Ripple Case Study Page update, Nium, a Singaporean-based fintech startup, shared its experience using RippleNet and the successes that the blockchain has brought to the company’s business.
RippleNet technology made Nium the first in the region to offer corridors from the Americas to a number of destinations in Southeast Asia. The new connections on the network also helped Nium to strengthen its presence in Australia, Singapore and Malaysia.
“RippleNet really helps us globalize faster,” says Prajit Nanu, Co-Founder and CEO at @NiumGlobal.
Learn how Nium reduced domestic transfer rate costs for their customers and differentiated themselves in a crowded marketplace. 👏 https://t.co/0ReGykwRhG pic.twitter.com/9yLGihWKOi
— Ripple (@Ripple) May 29, 2022
Nium began using Ripple’s advanced blockchain technology to process real-time transactions for its customers a few weeks after joining RippleNet. According to Prajit Nanu, co-founder and CEO at Nium, the innovation has made payments faster and more reliable for customers, as well as significantly increasing total remittance volume in a short period of time. Nanu also stated that RippleNet has helped Nium quickly increase the breadth and depth of its global payment services by connecting new partners.
The golden mean
It seems that Ripple was able to find its place, taking a position right between the crypto world and the area of traditional finance. Despite ongoing proceedings with the U.S. SEC, the company is still attractive for partnerships with international payment systems, banks, and even the prime minister of Georgia is discussing with the Ripple CEO the possibility of integrating RippleNet into the country’s banking system and adapting crypto to the daily life of the Georgian people.
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The company is so self-confident that it is already making statements about a possible IPO on the stock market. The plans are indeed admirable, especially given the hardships that the company and its holdings have had to endure in recent years.