Stablecoin venture Noah secures $22 million in seed funding, spearheaded by LocalGlobe
In the rapidly evolving world of cryptocurrency, a new player is making waves. Noah, a startup focused on building a global stablecoin payment network, has recently secured a $22 million seed funding round led by LocalGlobe, with additional investments from Felix Capital, FJ Labs, and Palantir co-founder Joe Lonsdale.
Based in London, Noah operates as a stablecoin infrastructure platform designed to address the inefficiencies in traditional cross-border transactions. With over $1 billion in transaction volume already processed, the startup has demonstrated strong traction, particularly in emerging markets.
The company's co-founder, Thijn Lamers, previously worked at fintech giant Adyen, and CEO Shah Ramezani brings a unique perspective to the table, having Iranian descent. Lamers emphasizes the disruptive potential of stablecoins, stating that they can "completely eliminate the constraints of traditional payment processors."
The fresh capital will be used to expand Noah’s operations globally, targeting payment solutions across 70 countries. The team will grow, and the stablecoin technology stack will be enhanced to drive innovation in payment solutions, leveraging decentralized networks to enable faster and more cost-effective cross-border transactions.
Noah's vision is to create a more efficient and inclusive financial system, benefiting individuals and businesses worldwide by utilizing stablecoins as a primary payment method. The startup aims to build a global stablecoin payment network, enabling conversions for over 50 currencies and transfers in over 70 countries.
The name Noah symbolizes the company's goal to combat mass currency inflation. Ramezani describes co-founder Thijn Lammers as "really a beast" with immense energy. The company has also attracted high-profile angel investors, including former Unity CEO David Helgason and former Adyen CTO Alexander Matthey.
As the adoption of stablecoins grows globally, Noah is poised to transform the landscape of international payments through speed, lower costs, and transparency. The startup is among a growing number of crypto startups looking to advance global payments using stablecoins, signalling a promising future for this innovative technology.
In the realm of technology and finance, Noah's vision of creating a global stablecoin payment network aims to revolutionize the business industry by offering a more efficient and inclusive financial system. This startup, backed by a $22 million seed funding round, is targeting expansion into 70 countries, focusing on leveraging technology for faster, cost-effective cross-border transactions in the news of crypto and fintech.
