Nonco Secures $10M in Seed Funding for Digital Asset Brokerage

• Nonco Secures $10 Million in Seed Funding
• Investors in the Seed Funding Round
• Nonco's Performance and Growth
• Nonco's Future Goals and Strategy
• Nonco's Unique Approach and Board Members

Nonco Secures $10 Million in Seed Funding

Digital asset brokerage Nonco, a subsidiary of a leading Over-the-Counter (OTC) provider in Latin America, has successfully raised $10 million in seed funding. This capital is set to aid the firm in meeting the rising needs of its expanding institutional client base in the United States. The funding round included a mixture of equity and convertible notes.

Investors in the Seed Funding Round

The funding round was spearheaded by Valor Capital Group and Hack VC. Valor Capital Group is led by former U.S. Comptroller of Currency and CEO of Binance.US, Brian Brooks, while Hack VC is led by Alex Pack, the founder of Dragonfly Capital. Other participants in the round include Morgan Creek Digital, CMCC, Lvna Capital, Theta Capital, Bullish, Bastion Trading, and Libra Capital Ventures. Bullish is the owner of the funding source.

Nonco's Performance and Growth

Nonco, a term derived from nonconformist, has marked $6 billion in volume in the Latin American region since its launch in April. The firm is reportedly witnessing an increase in demand within the United States market. Previously part of OSL Digital Limited - the Americas division of the Hong Kong-based digital asset platform and OTC brokerage in Asia, Nonco has retained the same team and holds a minority stake in the new venture.

Nonco's Future Goals and Strategy

Nonco aims to lead the digital asset brokerage sector. Their strategy involves setting a new standard that emphasizes technology and service, while ensuring institutional risk management and compliance. This is according to a statement by Nonco's CEO, Fernando Martinez.

Nonco's Unique Approach and Board Members

The brokerage firm uses a non-custodial approach that employs multiple counterparty risk-mitigating settlement mechanisms. Noteworthy additions to the company's board include Brian Brooks and Alex Pack.

Edited by Jonathan Stoker