Singaporean Fintech Nium Aims for 2025 U.S. IPO

Bloomberg reports that Singaporean fintech company Nium Pte. intends to go public in the United States in the second quarter of 2025.

Before its planned initial public offering (IPO), the company, valued at approximately $2 billion, hopes to break even.

CEO Prajit Nanu emphasized that predicting market trends is beyond anyone’s control, but their primary objective over the next fifteen months is to be well-prepared.

Formerly known as InstaReM, Nium operates a platform that allows businesses to send, spend, and receive funds globally.

In 2020, it partnered with the renowned San Francisco blockchain firm Ripple. The partnership was intended to facilitate instant, inexpensive international transactions.

Ripple has been contemplating a public offering. A legal storm brewing with the U.S. Securities and Exchange Commission (SEC) has, however, cast a shadow over these plans.

During an interview with CNBC at the World Economic Forum in Davos, Garlinghouse indicated that Ripple would pursue an IPO once the legal haze surrounding the SEC dissipated.

This legal tug-of-war has been ongoing for nearly three years, and Ripple hopes it will be resolved within the following year.

Despite Garlinghouse’s prediction that the case would be resolved in the first half of 2023, there has been no final decision since early July.