Nium, a partner of Ripple valued at $2 billion, is preparing for a momentous move as it unveils plans to go public in the US. Bloomberg reported that Nium Pte, a Singapore-based financial technology company, recently revealed its intention to launch an initial public offering (IPO) during the second quarter of 2025 on US soil.
Nium is currently valued at around $2 billion, and is working hard to break even before embarking on its highly anticipated IPO. Prajit Nano, CEO of the company, emphasized the difficulty inherent in predicting future market trends, but stressed that the primary goal of NEOM over the next 18 months is to meticulously prepare for this transformative achievement.
Formerly known as InstaReM, Nium operates a cutting-edge platform that empowers businesses with the ability to seamlessly transfer, spend, and receive money around the world. A big move for NEOM was formed in 2020 when it forged a strategic alliance with Ripple, a popular blockchain startup headquartered in San Francisco. The partnership aims to enhance access to fast and cost-effective global transactions.
For Ripple, the prospect of going public has always been on its radar. However, this ambition has been hampered by an ongoing legal dispute with the US Securities and Exchange Commission (SEC). Ripple CEO Brad Garlinghouse hinted at the World Economic Forum in Davos, Switzerland, during an interview with CNBC, that an IPO journey could be embarked on if the legal uncertainty dissipates.
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The SEC’s dispute with Ripple has entangled itself in a protracted legal tug-of-war that has spanned nearly three years, and the company is eagerly anticipating a resolution within the current year. Despite Garlinghouse’s earlier predictions that the matter would be settled by the first half of 2023, no decision had been reached as of the beginning of July.