Notabene, the leading digital asset payment authorization network, announced today that it has raised $14.5m in a Series B funding round.
The round was spearheaded by DRW VC and saw participation from several prestigious firms including Apollo, NextBlock, ParaFi Capital, and Wintermute, alongside existing investors such as CMT Digital, F-Prime, Green Visor Capital, Illuminate Financial, Jump Capital, Signature Ventures, and Y Combinator.
The company is renowned for automating the secure transfer of sensitive data across financial institutions, simplifying the compliance process required by the global financial regulation known as the Travel Rule. This rule mandates that crypto companies, including exchanges and payment processors, securely exchange information about both the sender and receiver of funds.
Notabene has played a pivotal role in processing over half a trillion dollars worth of transactions.
With this new capital, Notabene plans to expand its support to traditional financial institutions venturing into digital payments. Given the burgeoning global adoption, with over $20trn processed in stablecoin transactions last year, Notabene is keen to unlock stablecoins’ potential as fast, low-cost, borderless payments. The company aims to facilitate a secure, transparent system that supports an open, interoperable payment network.
Notabene’s CEO, Pelle Brændgaard, emphasized the company’s forward-looking vision. “”We’ve already established ourselves as a pioneer in Travel Rule compliance, and now, as regulatory clarity grows and adoption scales, we are positioned to do the same for payments. By enabling secure, compliant, and open digital asset transactions, we’re helping shape the next generation of global financial infrastructure.
“Our philosophy of building open networks to maximize reachability between transacting counterparties will be a key driver of adoption with both crypto-native organizations, as well as incumbent players in traditional finance that are showing an increased interest in digital assets and blockchain payment solutions.”
Further endorsements come from the investor side, with Alexander Ross, General Partner and Head of NYC for Illuminate Financial, remarking on the company’s potential to revolutionize the industry. “As the existing market leader for Travel Rule compliance, we believe Notabene has the potential to become the “SWIFT network for blockchain transactions.” There is a desperate need for a secure network to share all transaction metadata. This will enable compliance with global regulations and is a key pillar to unlocking mass adoption of stablecoins for payments. We have been working with the founders since 2021 and believe they are the best positioned to execute this vision.”
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