Community Question: Is the delay in the Bluecode partnership due to regulatory or compliance issues?

Questions
#1

The main challenge for all payment integrations and partnerships Nimiq has pursued, has consistently been the legally compliant conversion from crypto to fiat when merchants prefer settlement in fiat. Over the years, several companies in Europe have offered such services, and Nimiq proactively engaged in discussions and negotiations with most of them. Despite Nimiq’s readiness to commit significant resources, these partners largely focus on high-volume trading clients such as e.g. crypto exchanges, rather than focusing on merchant payments, which naturally limited the alignment of interests in the past.

Nimiq has always prioritized working with those partners most advanced in obtaining the required licenses necessary in order to enable our payment products. Unfortunately, some of these partners were not able to cross the finish line with their ambitious endeavors, which required Nimiq to re-evaluate and restart the search process for new partners multiple times. At present, we are working once again working with new partners who are actively engaged in the practical and technical implementation process of Bluecode into Nimiq Pay.

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#4

I’m sure there’s a reason you can’t name this partner, but could you provide any more information about them at this point in time?

#2
#3

How reliable are these new partners? Do they have the necessary resources to master this? That would really interest me a lot.

#5

@ako @Qatoshinimura

At this stage, we are not yet disclosing the names of the partners involved in the Bluecode project. This is mainly to respect ongoing contractual and technical processes and to avoid creating expectations around third parties before everything is fully in place. Once we reach the appropriate milestone in the rollout and all parties agree, we plan to introduce the partner publicly and explain their role in more detail.

What we can share today is that this is an established trading partner that already works with prominent companies in Europe and is experienced in handling fiat–crypto conversions at scale.

How reliable are these partners and do they have the resources to deliver?

There is no fully objective metric that can guarantee “reliability” in advance, especially in a highly regulated and fast-moving environment like crypto payments. That said, we have been very deliberate in our choice this time:

The partner is well-established in its field and already operates with recognized European clients.

They have the infrastructure and team required to handle the kind of crypto-to-fiat conversion setup needed for Nimiq Pay and Bluecode.

We are already in active, practical implementation work with them, not just exploratory talks.

In other words, while no partnership can be fully risk-free, we believe this collaboration is built on a strong foundation. Once the time is right, and key steps are completed, we will formally present the partner and their role in the Nimiq ecosystem.

Team answering:
Sales

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#6

Could we have an update regarding this? It has been six months.

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#7

Sadly no answer from the Team. In my eyes , the partnership with Bluecode is dead. I am happy to be proven wrong.
IMO

#8

The integration of Bluecode payments has always been and remains a very important project for the Nimiq team. However, it is important to, once again, highlight the different levels of technical and regulatory complexity involved in making this integration happen.

A functioning Bluecode integration requires multiple entities, each fulfilling specific roles, holding different regulatory approvals, and being tightly connected across technical, operational, and legal dimensions. Over the past few years, we have engaged with a range of well-established European crypto companies and infrastructure providers to explore viable setups for enabling self-custodial NIM payments within the Bluecode network.

Coordinating such a setup has proven highly resource-intensive. Beyond the technical integration itself, it requires aligning several independent partners, each with their own priorities, timelines, product pipelines, and commercial considerations. In practice, synchronizing these efforts so that all parties can move forward in a coordinated way has been one of the most challenging aspects.

Despite these challenges, we have explored multiple partnership structures in depth and progressed several of these discussions to advanced stages. This process has given us a clear understanding of what is required to make such an integration viable and where the key breaking points and bottlenecks lie.

We are not alone in facing these challenges. Through our work with said infrastructure providers, we have connected with other projects pursuing Bluecode integrations that have encountered very similar, if not identical, obstacles. These interactions further underline the complexity of enabling self-custodial crypto payments within Bluecode’s infrastructure.

That said, our commitment remains unchanged. We continue to work closely with partners, monitor emerging opportunities, and position ourselves to move forward as soon as a viable setup becomes available.

Our objective is clear: to enable self-custodial crypto payments via Bluecode in a way that is sustainable, compliant, and scalable. We will keep the community updated as soon as one of our current opportunities progresses to the next stage, and we thank everyone for their ongoing support and understanding.

Team answering:
Sales

2 Likes
#9

Thank you for the very fast reply.
Bluecode would finally allow Nimiq to be taken seriously by the very biased crypto community.