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Fintech giant Nium, valued at $2b, sets sights on US IPO amid Ripple’s legal battle

fintech-giant-nium-valued-at-2b-sets-sights-on-us-ipo-amid-ripples-legal-battle
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Fintech giant Nium, valued at $2b, sets sights on US IPO amid Ripple’s legal battle

Nium, a Ripple partner valued at $2 billion, is gearing up for a momentous move as it unveils plans to go public in the United States. Bloomberg reports that Nium Pte, a Singapore-based fintech firm, has recently disclosed its intention to initiate an initial public offering (IPO) during the second quarter of 2025 on American soil.

Presently estimated to be worth approximately $2 billion, Nium is diligently working towards achieving a break-even point before proceeding with its highly anticipated IPO. Prajit Nanu, the company’s CEO, emphasized the inherent difficulty in predicting future market trends but emphasized that Nium’s core objective over the next 18 months is to meticulously prepare for this transformative milestone.

Nium, formerly known as InstaReM, operates a cutting-edge platform empowering businesses with the capability to seamlessly transfer, spend, and receive funds worldwide. A significant stride for Nium was forged in 2020 when it forged a strategic alliance with Ripple, the renowned blockchain startup headquartered in San Francisco. The partnership aimed to enhance accessibility to rapid and cost-effective global transactions.

As for Ripple, the prospect of going public has long been on their radar. However, this ambition has been hindered by an ongoing legal dispute with the United States Securities and Exchange Commission (SEC). Ripple’s CEO, Brad Garlinghouse, hinted at the World Economic Forum in Davos, Switzerland, during an interview with CNBC that an IPO voyage could be embarked upon if the legal uncertainty dissipates. 

The SEC dispute has engaged Ripple in a protracted game of legal tug-of-war spanning nearly three years, and the company eagerly anticipates a resolution within the current year. Despite Garlinghouse’s earlier prediction that the matter would be settled by the first half of 2023, no decision has been reached as of the beginning of July.