Notabene

Leader

Crypto Travel Rule compliance platform connecting 165+ VASPs globally for KYC data sharing across 80+ jurisdictions; $27.1M with DRW Trading Series B processing $500B+ transactions preventing $1B+ high-risk.

Company Overview

About Notabene

Notabene is a Brooklyn-based cryptocurrency compliance platform that helps crypto exchanges, financial institutions, and virtual asset service providers (VASPs) meet Travel Rule requirements across 80+ jurisdictions — providing the infrastructure for compliant transfer of customer identification information between crypto businesses when transactions exceed regulatory thresholds (typically $1,000+ in the US, $1,000 EUR in Europe). Founded in 2019 and backed by Y Combinator with $27.1 million raised including a $14.5 million Series B led by DRW Trading Group in November 2024, Notabene serves 165+ companies globally, processing $500 billion+ in transactions annually while preventing $1 billion+ in high-risk transactions in 2024.

Business Model & Competitive Advantage

The FATF Travel Rule (from the Financial Action Task Force, the global money laundering watchdog) requires VASPs to share originator and beneficiary information when transferring crypto assets above threshold values — creating a compliance challenge because crypto transactions historically have no equivalent to the correspondent banking SWIFT message that carries wire transfer beneficiary data. Notabene's network connects VASPs globally to exchange this required compliance data in encrypted, privacy-preserving messages aligned with the IVMS101 data standard that regulators accept.

Competitive Landscape 2025–2026

In 2025, Notabene competes in the crypto Travel Rule compliance and transaction monitoring market with Chainalysis (blockchain analytics and compliance, raised $540M+), Elliptic (crypto risk and compliance), CipherTrace (Mastercard-acquired), and Sygna (another Travel Rule platform) for VASP compliance infrastructure. The regulatory environment for crypto has tightened globally — MiCA in Europe, FinCEN's travel rule enforcement in the US, and equivalent regulations in Singapore, Japan, and other jurisdictions have made Travel Rule compliance mandatory for operating crypto businesses. DRW Trading Group's Series B investment provides both capital and trading firm credibility. The 2025 strategy focuses on growing the global VASP network (more connected VASPs means better Travel Rule matching), deepening the sanctions screening and high-risk transaction prevention features, and expanding compliance modules to meet new MiCA requirements.

Revenue
$27.1M
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Key Differentiators

Market Leader

Notabene is recognized as a market leader in the Security sector, demonstrating strong industry presence and customer trust.

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