Nonco, a digital asset brokerage firm, has recently secured more than $10 million in seed funding, as confirmed through a recent official statement by the company.
“The leading brokerage firm for digital assets”
According to Fernando Martinez, CEO of Nonco, our ultimate objective is to solidify our position as the premier brokerage firm for digital assets. Our strategy involves setting a brand-new benchmark that places technology and service at the forefront, with a strong emphasis on institutional risk management and compliance.
Former US Comptroller of the Currency, who now advises Valor Capital Group, Brian Brooks, alongside Hack VC, the Web3 venture capital investment firm, led the round.
Hack VC posted a message expressing their enthusiasm about participating in @nonco_otc’s seed financing round. They mentioned how Nonco aims to excel as the top brokerage firm for digital assets, and conveyed their delight in joining forces with Nonco during their exciting journey.
Several companies in the cryptocurrency industry, including Libra Capital Ventures, Morgan Creek Digital, Bastion Trading, and Lvna Capital, joined forces to contribute to the investment round.
A lucrative Latin American market
Nonco, a new establishment established in the current year, is an offshoot of OSL, a digital asset platform headquartered in Hong Kong. What sets Nonco apart is its presence in multiple cities including London, Miami, Mexico City, and São Paulo.
The cryptocurrency industry has found a profitable market in Latin America, according to an analysis by Chainalysis. The region showcases robust grassroots adoption, with Brazil, Argentina, and Mexico securing positions within the top 20 countries on the organization’s global crypto adoption index.
According to a Chainalysis report, numerous countries in the region have integrated cryptocurrency into their daily routines, especially those grappling with currency devaluation.
Nonco’s recent capital raise aligns with the recent unveiling of El Salvador’s innovative ‘Freedom Visa’ initiative. This program grants visas to individuals who invest a substantial sum of $1 million worth of Tether and Bitcoin. Intriguingly, one must note that the application cost stands at $999 in USDT and BTC, and only a select group of up to 1000 individuals will be granted this enticing opportunity.
El Salvador made history by being the first country to give its official consent to Bitcoin, approving it as a recognized medium of exchange.
An up-and-coming asset firm and emerging market
Furthermore, there is a growing anticipation within the digital asset brokerage company regarding the increasing desire of Americans to engage with their ever-changing enterprise.
Chainalysis reports that the North American crypto sphere dominates nearly 25% of worldwide transaction activity, primarily driven by the United States.
The emerging digital asset brokerage firm can take great satisfaction in the statistics, as their total volume has surpassed $6 billion since April. This remarkable achievement promises even more positive prospects for the company.
Frequently Asked Questions:
1. Why is it important for Nonco to have achieved seed funding totaling more than $10 million?
Nonco has achieved a groundbreaking achievement by securing a whopping $10 million in seed funding, signifying an immense financial endorsement for its endeavors and expansion.
2. What is Nonco’s self-description?
Nonco presents itself as the premier digital asset brokerage, placing a strong emphasis on technology, dedicated service, institutional risk mitigation, and adherence to industry regulations.
3. Nonco’s seed funding round was championed by whom?
Brian Brooks, previously the US Comptroller of the Currency and presently an advisor at Valor Capital Group, led the seed funding round together with Hack VC, a venture capital firm focused on Web3 investments.
4. Who were the other companies that took part in Nonco’s investment round?
Libra Capital Ventures, Morgan Creek Digital, Bastion Trading, Lvna Capital, and multiple other crypto-affiliated enterprises stand out as significant contributors within Nonco’s seed funding round.
5. Can you tell me the location of Nonco, along with its association with OSL?
Nonco, a derivative of OSL, the digital asset platform headquartered in Hong Kong, operates across various global hubs including London, Miami, Mexico City, and São Paulo.
6. What makes Latin America an appealing market for Nonco and the cryptocurrency industry overall?
Cryptocurrencies have gained substantial traction and popularity in Latin America, specifically in nations such as Brazil, Argentina, and Mexico, establishing the region as a highly profitable market. Interestingly, these countries are also contending with the persistent issue of currency devaluation, which further enhances the attractiveness of cryptocurrencies within the region.
7. What is Nonco’s perspective on the U.S. market, and what factors contribute to its optimism towards U.S. interest?
Chainalysis reports that the evolving business of Nonco is expected to attract more attention from the United States. Notably, the North American crypto market, especially the United States, engages in around 25% of global transaction activity.
8. What are the developments that have been mentioned in the news about Nonco’s funding in El Salvador?
El Salvador has unveiled a revolutionary program called the ‘Freedom Visa,’ which provides individuals with the opportunity to obtain visas by investing $1 million in Tether and Bitcoin. Interestingly, this announcement aligns perfectly with Nonco’s capital raise, adding further significance to the timing. To obtain this visa, applicants must pay a reasonable fee of $999, payable in USDT and BTC. However, the number of available slots for this incredible opportunity is limited to just 1000 individuals.
9. In what ways has El Salvador actively participated within the realm of cryptocurrencies in the past?
El Salvador grabbed global attention as it stepped forward to be the pioneer in accepting Bitcoin as an official medium of exchange, showcasing its forward-thinking stance in adopting digital currencies.
10. What are the notable statistics that Nonco is emphasizing about transaction volume?
Since April, Nonco, the emerging digital asset brokerage firm, has managed to amass an impressive total volume, exceeding $6 billion. This notable achievement highlights the bright prospects that lie ahead for Nonco in the ever-evolving crypto market.
