Nonco, a digital asset brokerage firm, has successfully secured over $10 million in seed funding, as per the latest official statement from the company.
Fernando Martinez, the CEO of Nonco, has passionately expressed the company’s ambitious objective of establishing a new industry standard.
This goal involves giving top priority to cutting-edge technology and exceptional service. Simultaneously, maintaining a robust focus on institutional risk management and compliance.
Brian Brooks Leads The $10M Seed Funding for Nonco
Brian Brooks, the former US Comptroller of the Currency and current advisor at Valor Capital Group, spearheaded the funding round.
Additionally, there was active participation from Hack VC, a Web3 venture capital investment firm. Expressing their enthusiasm, Hack VC shared their investment in Nonco’s seed financing round, underscoring the brokerage firm’s mission to ascend as a leader in the digital assets brokerage landscape.
The investment witnessed diverse participation from well-known entities. Among these were Libra Capital Ventures, Morgan Creek Digital, Bastion Trading, and Lvna Capital. Other prominent players in the crypto space also contributed to the investment.
Founded this year, Nonco emerged as a spinoff from the Hong Kong-based digital asset platform OSL. The firm strategically positioned itself in vital global locations, including London, Miami, Mexico City, and São Paulo.
Nonco Thrives in Latin America’s Crypto Boom Amidst Growing US Interest
The cryptocurrency industry in Latin America has proven to be highly lucrative, with Chainalysis, a crypto analytics firm, noting robust grassroots adoption in the region.
Countries like Brazil, Argentina, and Mexico feature prominently in the top 20 of Chainalysis’s global crypto adoption index, driven in part by the prevalence of currency devaluation concerns.
This fundraising success for Nonco coincides with the recent announcement from El Salvador regarding the ‘Freedom Visa.‘ This initiative offers visas to individuals investing $1 million in Tether and Bitcoin. Notably, El Salvador made headlines earlier by becoming the first nation to recognize Bitcoin as legal tender.
Nonco Surpasses $6 Billion in Total Volume Since April
Anticipating heightened interest from the United States, Nonco positions itself as an up-and-coming asset firm in the ever-evolving digital asset landscape. According to Chainalysis, nearly a quarter of all global transaction activity occurs in the North American crypto market.
This activity is predominantly driven by transactions originating from the United States. This trend is particularly promising for the nascent brokerage firm. Notably, the firm has already accumulated an impressive total volume exceeding $6 billion since April.
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