November News: Series B Fundraise, Product Launch, EU TFR Course, and more!
Hard to believe that it's November already!
Between an exciting new fundraise announcement, a flurry of new product updates, and a surge of momentum from customers ramping up for TFR compliance on Dec. 30th, we’ve been busy!
Let’s jump in to what you need to know in the world of Notabene ??
We’re thrilled to have announced our recent Series B funding round led by DRW Venture Capital, with participation from funds managed by Apollo, Nextblock, ParaFi Capital, and Wintermute, along with existing investors CMT Digital, F-Prime, Green Visor Capital, Illuminate Financial, Jump Capital, Signature Ventures, and Y Combinator.
This raise will fuel Notabene’s growth as we expand our lead in the Travel Rule market and help us bring secure, transparent, and compliant crypto payments to more financial institutions, paving the way for stablecoins to revolutionize global finance.?
We couldn’t ask for stronger partners during this next phase of growth, and are grateful for the support from customers,?who have been a critical part of our amazing trajectory.
For more insights on what this fundraise means for the future of Notabene and the future of digital payments, Co-Founder Pelle Braendgaard shares his perspective in an insightful letter from the CEO.
On October 29th, we debuted?our game-changing solutions for self-hosted wallet compliance, built to meet the latest EU Transfer of Funds Regulation (TFR) requirements.
We also showcased our brand-new SafeConnect Components,?a powerful embedded UX suite?designed to streamline Travel Rule workflows, solve the new TFR requirements, and empower businesses to offer their users a seamless, secure, and fully compliant crypto transaction experience –?with just five lines of code??
We covered:
Miss the live event? No worries, we recorded it for you!
Notabene's EU Travel Rule Certification Course is now LIVE! With the December 30, 2024 TFR deadline approaching, compliance professionals need to prepare their organizations now. Our comprehensive certification program covers everything you need to know about EU Travel Rule compliance:
The 5-module course is designed for busy professionals who need to:
?? Ready to get certified?
Taxbit is the leading platform for enterprise financial and information reporting (e.g. 1099, W9) compliance. Our new partnership with Taxbit connects our customers with trusted solutions to streamline their tax and accounting processes and meet regulatory requirements.
Crypto Risk Metrics supports regulated crypto participants in meeting ESG disclosure requirements and adhering to MiCA regulations, ensuring data transparency and compliance across assets.?
For more information on how these partnerships can strengthen your compliance stack, reach out to your Notabene representative or email [email protected]
The Financial Stability Board (FSB) has released a progress report on the G20 Crypto-Asset Policy Implementation Roadmap, highlighting the need for global regulatory consistency, particularly around the FATF’s Travel Rule.
While nearly 89% of jurisdictions with significant VASP activity have either enacted or are in the process of enacting Travel Rule legislation , full implementation remains slow. Many jurisdictions still have not adopted the Travel Rule, and enforcement efforts are inconsistent. This lack of global alignment creates gaps that bad actors can exploit, posing risks to financial security.
The FSB advocates for cross-border cooperation and information-sharing frameworks to address these gaps, recommending measures like Memoranda of Understanding (MoUs) to enable effective enforcement. Based on discussions with regulators worldwide, Notabene’s Regulatory and Compliance team has firsthand insights that more jurisdictions are expected to introduce Travel Rule regulations and updated guidance by the end of the year. Additionally, the EU/EEA’s Transfer of Funds regulation will soon come into effect.
Why is this important? As crypto assets gain traction, the roadmap underscores that Travel Rule compliance is essential for a transparent and secure financial ecosystem. The FSB’s roadmap is a call to action for regulatory alignment, aiming to maintain security and trust in the global crypto market.
That's all for now!? Questions? Comments? Let us know at [email protected]
Have a great week, The Notabene Team