Crypto broker Nonco raises $10M from Valor and Hack VC

Noncoa company from brokerage specialized in digital assets and serving institutional investorshas just completed a tour de table from 10 million dollars.

Founded this year in the United States, Nonco offers cash, derivative and structured crypto products on a non-depository basis for institutional investors. The broker boasts that it has already executed close to $6 billion in trading volume since its launch in the spring.

Nonco announced Monday that it had raised $10 million in a financing round led by Valor Capital Group and Hack VC. According to a press release, Morgan Creek Digital, Bullish, CMCC, Lvna Capital, Theta Capital, Bastion Trading and Libra Capital Ventures also chipped in.

Following the transaction, Brian Brooks of Valor Capital Group, who was previously CEO of Binance US, and Alex Pack of Hack VC have joined the broker’s board of directors.

We want to make a statement, and it starts with our name, Nonco, derived from “maverick”. Our goal is to become the leading digital asset brokerage, and we intend to achieve this by setting a new standard that prioritizes technology and service while ensuring institutional risk management and compliance,” said Fernando Martinez, Nonco’s boss.

The fresh capital will be used to drive the company’s growth and meet “growing institutional demand” across the Atlantic.

Nonco is the result of a spin-off from OSL Digital Limited, the US arm of Hong Kong-based exchange OSL. For Brian Brooks, the broker is “particularly well placed” to capitalize on institutional interest.

This week, GFO-X, a platform offering Bitcoin futures and options to institutional investors, closed a $30 million Series B round led by M&G Investments.

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