According to the newspaper Business Review, the global financial project Nium, which is a partner of Ripple, received a license from a British financial regulator for the emission of electronic money (EMI).
The license issued by the Financial Supervision Authority (the financial regulator of the UK) will allow Nium to expand the provision of global financial B2B services for food and beverage services.
Nium will be able to conduct the issue of electronic money on digital wallets, execute digital payments in real-time between Great Britain and around 3.21 billion around the globe, by avoiding delays and high commissions for transactions.
Nium’s General Director Prajit Nanu has declared that this EMI license is very useful, as the EU license will otherwise not allow them to continue working in Britain after the completion of Brexit and the entry into force of the new rules of economic interaction between the United Kingdom and the EU.
He added that with a new identity, Nium customers will be able to continue using their Open Money Network, offer financial services, and enter new markets.
Another Ripple affiliate, Currencycloud, just recently got a license from the Dutch Central Bank.
With the new license, the electronic money company will continue to operate throughout Europe, regardless of the results of the negotiations for Brexit, and will continue to offer services to clients from the EU on money transactions based on the Ripple technology.
The new Ripple partner Currencycloud started using RippleNet just recently, on July 2 this year.
As for Nium`s rapid expansion in Europe, two months ago the company entered into an agreement with the giant financial technology Visa, in the framework of which is included the issuance of corporate banking cards, including credit, as well as debit ones.
