Nonco Raises over $10 Million in Seed Funding
Digital asset brokerage firm, Nonco, has secured more than $10 million in seed funding, according to a recent statement. Nonco CEO Fernando Martinez expressed the company’s goal to become the leading brokerage firm for digital assets by prioritizing technology, service, and institutional risk management and compliance.
Investment Round Led by Industry Experts
The funding round was led by Brian Brooks, former US Comptroller of the Currency and advisor at Valor Capital Group, along with Hack VC, a Web3 venture capital investment firm. Other participants in the round included Libra Capital Ventures, Morgan Creek Digital, Bastion Trading, Lvna Capital, and various other crypto-related companies.
Latin America’s Lucrative Market
Nonco is a spinoff of OSL, a Hong Kong-based digital asset platform, and has offices in London, Miami, Mexico City, and São Paulo. The company aims to tap into the growing Latin American market for cryptocurrencies. Chainalysis reports strong grassroots adoption in the region, with countries like Brazil, Argentina, and Mexico ranking high in its global crypto adoption index.
Growing Interest in the US Market
Nonco also anticipates increased interest from the US market. Chainalysis reveals that North America accounts for nearly a quarter of all global crypto transaction activity, with the majority coming from the United States. With a total volume of over $6 billion since April, Nonco sees promising opportunities in this emerging market.
Hot Take: Nonco’s Rise in the Digital Asset Industry
Nonco’s successful seed funding round highlights its ambition to become a leading brokerage firm for digital assets. With support from industry experts and growing interest in the Latin American and US markets, Nonco is well-positioned to capitalize on the increasing adoption of cryptocurrencies. As the company continues to prioritize technology, service, and compliance, it aims to set a new standard in the industry. The funding raised will fuel Nonco’s growth and contribute to the development of a robust digital asset ecosystem.
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