Nium, a Singapore-based cross-border payments company, acquired Cypher, a crypto wallet and card-issuing company, to expand its digital asset capabilities. It did not disclose the deal value.

Nium said the acquisition adds Cypher’s experience in building products for crypto-native users. The deal also expands support for stablecoin funding and settlement alongside its existing cross-border payment services.

Cypher founder Kuberan Marimuthu joined Nium as vice president of digital assets, and Cypher’s engineering team also joined.

Before the acquisition, Cypher had been running a consumer app and business card platform. It later announced it would shut down those services.

The deal continues Nium’s acquisition plans after it raised US$50 million in 2024 at a US$1.4 billion valuation.

The acquisition comes as payment companies increasingly market stablecoin-based cross-border payouts and settlement, including offerings that support 60+ markets. It also follows Singapore’s central bank, the Monetary Authority of Singapore, finalising rules for certain stablecoins.

🔗 Source: Nium

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