Singapore’s Temasek-backed cross-border payments company Nium has acquired crypto infrastructure startup Cypher, according to its announcement on Thursday.

Financial terms of the acquisition were not disclosed.

The deal strengthens Nium’s push into digital asset infrastructure following the rollout of its stablecoin-backed card issuing product and support for funding and settlement using stablecoins.

The company said it has seen increasing demand from crypto-native businesses, including digital wallets and exchanges, as well as fintech firms integrating digital asset services into their platforms.

Cypher develops non-custodial crypto wallet and card issuing technology designed to connect blockchain-based assets with traditional…