This partnership will launch a cutting-edge international remittance service in Brazil, which is a big step after the government approved Ebury's purchase of the Brazilian FinTech Bexs. This acquisition includes Bexs Pay, which is devoted to payments, and Bexs Banco, which specializes in foreign exchange. Both companies are now doing business in Brazil under the name Ebury Bank.

The collaboration is to give companies the capacity to carry out cross-border payments to and from Brazil in a timely, dependable, and economical manner. This project is an extension of the cooperation that already exists between Ebury and Nium in Europe, wherein the London-based company uses Nium's extensive global payments infrastructure to make international payroll and supplier payments.

Ebury is an expert in facilitating transactions for SMEs and improving their capacity for international trade, utilizing its substantial presence in the FinTech industry. Conversely, Nium is a leader in real-time global payment systems, enabling payouts to over 190 countries in over 100 currencies, including 100 in real-time. By means of this collaboration, Nium's large-scale cross-border payment options will be combined with Ebury's vast payment streams, with the goal of completely transforming the effectiveness, velocity, and expense of global commercial transactions.

It is expected that this partnership will improve Brazil's previously unreachable link to emerging markets. The alliance intends to bring security and effectiveness into transactions by integrating high-tech solutions with worldwide coverage, such those provided by Nium. This will have a major positive impact on the Brazilian market.

Nium is committed to improving digital payment solutions in Brazil, which is demonstrated by its formal entry into the region in August 2023 with a new office in Sao Paulo. This indicates the company's strategic focus on Latin America. With this collaboration, Nium has established its first bank relationship in Brazil. It is positioned to spur innovation in digital payments and solve the difficulties that both individuals and companies encounter when transacting internationally.

Luiz Henrique Didier Jr., Executive Director of Ebury Bank in Brazil, stated, "Our goal is to link Brazilian customers with the global consumer ecosystem and the global consumer base with Brazil." And the best way to accomplish this is to leverage cutting-edge technologies and worldwide coverage, like those provided by Nium, which enhance transaction security and efficacy. For us, this is a game-changer. Our team felt very confident after watching the product demos, and the technology integration procedure was smooth and successful, indicating a positive beginning to the collaboration.

"Brazil has tremendous potential to set a global example in digital payment innovation," said Christina Hutchinson, General Manager, Brazil and Head of Business Development, LATAM at Nium, expressing her excitement. But, whether they send or receive foreign cash using conventional wire transfers or outdated banking systems, individuals and businesses in this country still have to deal with exorbitant hidden costs, protracted delivery times, and uncertainty.

"We are excited to extend our partnership with Ebury in Europe in order to provide more economical and effective means of sending and receiving money to the underbanked SME and consumer community in Brazil. This is just one more fantastic illustration of how innovative cross-border payment systems are significantly improving the lives of millions of people worldwide.