Global fintech platform Nium receives UK EMI License
Nium, a global financial technology platform, has received its UK Electronic Money Institution license from the Financial Conduct Authority, giving it the ability to issue e-money and provide cross-border digital paymentsin the UK.
As an authorized EMI, Nium can provide UK customers end-to-end B2B and B2C financial products and services, store or issue currency for digital wallets, conduct real-time transfer of funds or send money to beneficiaries globally and unlock frictionless payments through API tools and turnkey infrastructure, according to a press release.
"As our European EMI license will not allow us to continue serving our clients in the UK after the Brexit transition period ends on December 31, 2020, this is an important step towards maintaining continuity. With the UK EMI, license customers in the country will be able to continue tapping on our Open Money Network to offer financial services, enter new markets, expand across the globe, generate new revenue, and enhance customer satisfaction," Nium's co-Founder and CEO, Prajit Nanu, said in the release.