Traditional payment giants have started to seriously build out on-chain entry points—this round of acquisitions makes it an open-and-shut, confirmed track for stablecoin cross-border settlement.

BlockBeats news, Wu said that global cross-border payment infrastructure company nium announced the acquisition of crypto-native non-custodial wallet and card issuance company cypher to expand its fiat-to-on-chain capital flow infrastructure. Founded in 2022, cypher has received investment from institutions such as Y Combinator and Coinbase Ventures, focusing on on-chain wallet and payment products. After the acquisition, cypher founder Kuberan Marimuthu will become nium's Vice President of Digital Assets, and the cypher engineering team will also join nium. nium stated that the acquisition will further enhance its capabilities in stablecoin payments, card issuance, and cross-border fund settlement.