A World of Open Money Goal Set By Ripple Partner InstaReM

The clever cross-border payments provider and RippleNet Partner InstaReM has just recently announced its rebrand. This is in order to become part of Nium, the official statement notes that even though the rebrand was part of the strategy since its recent $41 million funding round, the end goal for Nium is to develop a world of open money which would allow businesses to send, spend and receive finances in a much easier fashion from across the globe.

At first, InstaReM entered this strategic space with Ripple with the goal of facilitating fast and secure payouts for members of RippleNet in Southeast Asia. 

The CEO and co-founder of Nium, Prajit Nanu had this to say: 

“As we look to the future, our strategy is to move beyond merely creating services on our own proprietary platform. We have worked really hard in the last four years to build new capabilities that open a world of possibilities in the global payments universe.”

The CEO also noted that the new venture will...

“Express our broader capabilities to the world, and to engage more directly to our existing and future enterprise partners, we have rebranded InstaReM to Nium. We aspire to become enablers; creators of an open platform that businesses and partners use to build a world free of old constraints and restrictions – a true world of Open Money. This is Nium.”

In trying to explain the partnership, the release highlighted that the Ripple partner will still be digital remittance solution, now powered by the Nium platform. Last month, the firm even released its digital asset transfer service in Canada. This service aims to help citizens of the nation in sending money to more than sixty nations with InstaReM’s Zero-Margin and Low-Fee international money transfers.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!