Singapore’s Nium Recieves UK Electronic Money Institution License

Nium (formerly InstaReM), the Singapore-based cross-border payments fintech, has landed an electronic money institution (EMI) licence in the UK, giving it the ability to issue e-money and provide cross-border digital paymentsin the UK.

As an authorised EMI in the UK, Nium can now continue to extend its global financial infrastructure to businesses and consumers in UK, providing end-to-end B2B and B2C financial products and services. Through this licence, the fintech will be able to offer stored value and conduct real-time funds transfers and send money to 3.21 billion beneficiaries around the world.

Read more on the topic: the Paypers