Loading...

Digital Asset Brokerage Nonco Secures $10M Seed Funding for U.S. Expansion

Kraken and WazirX list Solana-backed BONK cryptocurrency

Most read

Loading Most Ready posts..

TL;DR

  • Since its inception in April, digital asset brokerage firm Nonco, embodying a nonconformist ethos, has swiftly gained prominence, boasting an impressive $6 billion in trading volume within the Americas. The surge in demand within the U.S. has prompted the company to secure $10 million in seed funding for strategic expansion.
  • Originating as a spin-off from OSL Digital Limited, the Americas division of Hong Kong-based OSL, Nonco inherits the expertise of the same team. With OSL retaining a minority stake in the venture, the collaboration showcases a strategic partnership combining experience and innovation to navigate the dynamic landscape of institutional digital asset trading.

Digital asset brokerage firm Nonco has successfully raised $10 million in seed capital. The funding round, comprising a mix of equity and convertible notes, was spearheaded by Valor Capital Group, led by former U.S. Comptroller of Currency and Binance.US CEO Brian Brooks, and Hack VC, an investment firm helmed by Alex Pack, the former co-founder of Dragonfly Capital.

The substantial investment also saw participation from a notable list of contributors, including Morgan Creek Digital, CMCC, Lvna Capital, Theta Capital, Bullish, Bastion Trading, and Libra Capital Ventures.

Nonco’s impressive growth and market presence

Since its April debut, Nonco, aptly named for its nonconformist approach, has swiftly become a noteworthy player in the digital asset landscape, achieving a remarkable trading volume of $6 billion within the Americas region. The firm’s rapid ascent is underscored by a surge in demand within the U.S., prompting strategic fundraising to support its ambitious expansion plans. Having originated as a spin-off from OSL Digital Limited, the Americas division of the Hong Kong-based digital asset platform OSL, Nonco seamlessly inherits the expertise of the same accomplished team. Interestingly, OSL retains a minority stake in the newly established venture, showcasing a strategic partnership that combines experience and innovation to navigate the dynamic world of digital asset trading.

Nonco’s impressive growth trajectory not only underscores its ability to capture market attention but also reflects the heightened demand for digital asset brokerage services in the Americas. As it strategically positions itself to meet the growing demand, the infusion of seed capital and the continued association with OSL lay a solid foundation for Nonco’s future endeavors in reshaping the landscape of institutional digital asset trading.

Non-custodial approach and risk mitigation strategies

Nonco distinguishes itself by offering a non-custodial approach to digital asset brokerage, deploying multiple counterparty risk-mitigating settlement mechanisms. The company’s strategic vision, as outlined by CEO Fernando Martinez, is to establish itself as the foremost brokerage firm for digital assets. Martinez emphasizes the company’s commitment to setting a new standard in the industry, prioritizing technology and service excellence while maintaining a strong focus on institutional risk management and compliance.

As part of the investment deal, both Brian Brooks and Alex Pack will assume roles as board members within Nonco, bringing their wealth of experience and insights to the company’s strategic decisions. With a clear mission to become a leader in the digital asset brokerage space, Nonco aims to redefine industry standards, fostering growth through cutting-edge technology, superior service, and a steadfast commitment to risk management and compliance. The infusion of $10 million in seed funding positions Nonco for an exciting phase of expansion and innovation in the rapidly evolving landscape of digital asset trading.

Conclusion

Nonco’s successful seed funding round signifies a pivotal moment in the company’s journey, as it positions itself for robust growth and market leadership in the digital asset brokerage sector. With strategic backing from notable investors and industry veterans, Nonco is well-positioned to navigate the complexities of the evolving crypto landscape, offering institutional clients a secure, non-custodial platform coupled with innovative risk mitigation strategies. As the company forges ahead, the collaboration with Brian Brooks, Alex Pack, and other prominent figures underscores the industry’s recognition of Nonco’s potential to set new standards in digital asset brokerage.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Share link:

Haseeb Shaheen

As a Web Researcher and Internet Marketer, Haseeb Shaheen delivers relevant valuable content for audiences. He focuses on financial and crypto market analysis, as well as technology-related areas that help people change their lives.

Stay on top of crypto news, get daily updates in your inbox

Related News

Weekly roundup: Asia's top crypto news
Cryptopolitan
Subscribe to CryptoPolitan