The acquisition brings Cypher’s specialized engineering talent and its founder, Kuberan Marimuthu, into the Nium fold. Marimuthu, a former payments and risk executive at Coinbase and Amazon, will serve as Nium’s Vice President of Digital Assets. By absorbing Cypher’s non-custodial wallet and issuing technology, Nium intends to offer consumer-facing Web3 companies and traditional fintechs a more robust, compliant bridge for stablecoin-backed settlements and cross-border transactions.
Nium Acquires Crypto-Native Infrastructure Firm Cypher
San Francisco-based payments giant Nium has acquired Cypher, a crypto-native wallet and card-issuing startup, to accelerate its push into on-chain money movement. The move integrates Cypher’s blockchain expertise into Nium’s global infrastructure, aiming to bridge the gap between traditional fiat banking and emerging digital asset ecosystems.
Nium CEO Prajit Nanu highlighted the necessity of removing friction from global payouts, noting that current correspondent banking flows remain sluggish and inefficient. By embedding Cypher’s technical stack into its existing regulatory framework—which spans over 40 countries—Nium aims to standardize the speed and precision of money movement across both bank accounts and digital wallets. This integration supports Nium’s broader strategy to position itself as the primary orchestration layer for value exchange between fiat and blockchain-based assets.
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