Nium, a provider of real-time cross-border payments, is strengthening its presence in Latin America by applying for essential licenses, joining key fintech associations, expanding its employee presence, and signing new customers.
This month Nium applied for a Payment Institution License in Brazil, which will enable the company to provide payment services to clients including managing funds locally in BRL and real-time payments through Pix.
Additionally, Nium is seeking FX authorization in Brazil to enhance its foreign exchange transaction capabilities.
“Latin America has established itself as a frontrunner in numerous cross-border use cases, particularly in global marketplaces where its e-commerce economy thrives in supplier corridors with Asia and Europe,” said Prajit Nanu, Founder and CEO of Nium. “Recognizing this potential, we have been strategically investing in Latin America for years, securing major clients and expanding our operations. This ongoing growth empowers us to further bolster the region’s vibrant and dynamic landscape.”
Nium continues to expand its customer and partner footprint in Latin America. The company recently announced a partnership with BS2, a digital bank in Brazil specializing in fintech solutions for businesses. BS2 leverages Nium’s Global FX product to reduce FX costs and enable real-time payouts between Brazil and key trading corridors like China and the UAE. BS2 also joined Nium’s network of partner banks, acting as Nium´s Brazilian Real (BRL) Correspondent Bank and assisting real-time payment settlement for cross-border Pix transfers.
Nium has been present in the region dating back to 2017. Recent customer wins, include Ouribank, Treviso, OZ Cambio, and Frente. Nium and Ebury, a leading fintech company specializing in SME transactions, also expanded their partnership to launch a groundbreaking global remittance service in Brazil. This collaboration allows businesses to send and receive fast, reliable, and affordable cross-border payments to and from Brazil.
In addition, Nium has joined ABRACAM (Associação Brasileira de Câmbio – Brazilian Exchange Association), an association representing institutions authorized by the Central Bank of Brazil (BCB) to conduct foreign exchange operations. This membership was strategically chosen as part of Nium’s commitment to be part of and contribute to the Brazilian financial and cross-border market. This membership has numerous benefits, including regulatory advocacy, knowledge sharing, and enhanced market credibility. Nium now has access to industry insights, exclusive resources, and collaboration opportunities with key stakeholders, with the ability to influence policies and foster a supportive ecosystem for banking in Brazil.
“We’ve made significant strides this year in expanding our presence in LATAM,” said Christina Hutchinson, VP of Business Development LATAM at Nium. “Nium is rapidly building and scaling local payout rails across the entire region to help better serve our target verticals, which are primarily banks, FIs, and platforms. We’re also working to bring our travel offering and card issuance to the region, once our new licences are in place. Brazil specifically has the potential to be a global leader in digital payment innovation and our advancements in cross-border payment solutions are creating meaningful impacts on millions of lives worldwide.”
Nium plans to grow its physical presence in the region, hiring strategic roles in business development and partnerships.
