Nium – a Singapore-headquartered cross-border payments entity – reportedly disclosed details related to the introduction of a new API-based solution, which supports crypto-enabled payments. 

Specifically, the freshly released solution – going by the name “Crypto Accept” – will reportedly offer assistance to online sellers in adding Bitcoin (BTC) and Ethereum (ETH) to the list of viable payment measures, prior to widening the scope to cover different virtual assets in 2023. 

Payments will reportedly be transferred to internet merchants’ accounts in US dollars or different fiat currencies on the following business day, making it possible for vendors to broaden the scope of their markets and improve their online payment experiences while steering clear from price volatility.

Nium reportedly forged an alliance with crypto payments processor BitPay to introduce the Crypto Accept functionality. 

Customers will select their go-to crypto wallet, and scan a QR code to finalize the transaction.

The service will help run verification for the legitimacy of the crypto coin involved and carry out the transaction in the merchant’s selected currency.

“Consumers hold more than $3 trillion in cryptocurrency and are looking for more places to spend this money online.” Joaquin Ayuso de Paul, the senior vice president and head of Nium Crypto, additionally remarked regarding the development. 

Nium was reportedly established in 2014 as Instarem and is based in Singapore. The payments firm currently caters to a network of 130 million consumers throughout the globe. 

This most recent initiative from Nium reportedly follows in the footsteps of different well-known payments providers to accept cryptocurrency payments.