Noble, a Toronto-based Web3 startup, has closed a $15 million USD Series A funding round led by cryptocurrency investment firm Paradigm.
Other participants included Polychain, Foresight Ventures, Wintermute Ventures, and Toronto’s Informal Systems, among others. This latest round brings Noble’s total funding to $18.3 million USD.
Revolutionizing Stablecoin Issuance
Founded in 2023 by Jelena Djuric, Stefan Coolican, and John Letey, Noble helps stablecoin issuers distribute their assets efficiently across the Cosmos blockchain ecosystem. The platform was inspired by the collapse of Terra and its Luna stablecoin in 2022, which created significant liquidity challenges in Cosmos and spurred the need for robust, secure stablecoin solutions.
“Terra’s collapse highlighted the limitations of existing stablecoin routing models,” said CEO Jelena Djuric. “The platform aims to provide a secure and scalable foundation for stablecoin issuers to thrive within the fragmented crypto economy.”
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Achievements and Future Plans
Over the past year, the startup claims to have facilitated $5 billion in transaction volume and attracted $450 million in issued assets from major players like Circle and Ondo Finance. Its platform connects over 50 applications through a single-click workflow.
With this funding, the company plans to launch its own Noble Dollar stablecoin and enhance its offerings to drive stablecoin adoption.
Leveraging Industry Expertise
The firm’s leadership team brings extensive experience from the blockchain and financial sectors. CEO Jelena Djuric is a co-founder of the Canadian Web3 Council and previously worked at Informal Systems. COO Stefan Coolican served as President and CFO of Ether Capital, bringing expertise in scaling blockchain projects.
With this funding, Noble is poised to strengthen its position as a key player in digital asset issuance, empowering stablecoin issuers with innovative tools to navigate the evolving blockchain landscape.
