Notabene Helps With Global Compliance

Notabene, a New York-based crypto compliance startup, has raised just over $10 million in Series A funding, pushing its valuation to $45 million. Notabene has over 50 customers around the world that use its software to comply with Financial Action Task Force regulations. The FATF “travel rule” requires exchanges in member countries to provide regulators with customer details on transactions over $1,000. This ensures compliance with the KYC, or Know Your Customer and anti-money laundering, or AML, regulations. A notable privacy gap in the process occurs when consumers must attach their real names to anonymous blockchain wallets. Notabene takes care of this process by creating software that automatically collects and transfers the needed information to regulators while maintaining the privacy of the retail consumer. Only parties involved in the transaction can see this information, and that data is transferred to regulators without the potential for hacking or data loss. Aside from the obvious benefits of the new software, Notabene also helps its clients build trust with crypto traders, advertising a needed security service that other exchanges do not possess.