• Nium, a Singapore-based fintech company, is planning to go public in the US within two years.
• The company has been valued at $2 billion and is backed by Singapore’s GIC and Temasek.
• The company entered into a partnership with Ripple in 2020 and aims to facilitate instant, low-cost international transactions using Ripple’s technology.

Nium Pte’s Plans for an IPO

Singapore-based fintech firm Nium Pte, valued at $2 billion and backed by Singapore’s GIC and Temasek, is firming up plans for an IPO in the United States within two years. Nium aims to break even before its initial public offering (IPO) and is focused on being fully prepared over the next year and a half.

Ripple Partnership

In 2020, Nium entered into a partnership with Ripple, a prominent San Francisco-based blockchain company. The collaboration aimed to facilitate instant, low-cost international transactions using Ripple’s technology . However, Ripple’s own plans to go public have been overshadowed by an ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).

Ripple CEO Brad Garlinghouse

Ripple CEO Brad Garlinghouse has expressed the company’s intent to pursue an IPO once the legal uncertainties with the SEC are resolved. Despite Garlinghouse’s prediction of a potential resolution in the first half of 2023, as of early July, no final ruling has been made. The legal battle has been ongoing for nearly three years, casting a cloud over Ripple’s IPO aspirations.

Implications For Adoption & Development Of ODL & XRP

Nium’s decision to go public in the U.S. carries significant implications for the adoption and development of Ripple’s On-Demand Liquidity (ODL) solution and its associated digital asset XRP which is used as part of ODL transactions on their platform .

Conclusion

Nium’s upcoming IPO could foster further adoption of both ODL and XRP as it will serve as proof that businesses can succeed when leveraging these technologies . This could potentially be seen by other companies as an investment opportunity into similar solutions offered by Ripple’s suite of products .

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