NASD Raises $3.3M Seed Round for Asset Issuer Chain Noble

Noble is an appchain built for native asset issuance in Cosmos and the boundless Inter-Blockchain Communication (IBC) ecosystem.

AccessTimeIconOct 24, 2023 at 10:00 a.m. UTC
Updated Oct 24, 2023 at 11:07 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

NASD Inc., the company behind Noble, an asset issuance chain built for communication between blockchains, has raised $3.3 million in a seed round.

The raise was led by Polychain Capital and included Borderless Capital, Circle Ventures and Wintermute Ventures, among others.

Noble was created for native asset issuance in Cosmos and is part of the inter-blockchain communication protocol (IBC) that helps transport data between blockchains. IBC also allows users to exchange assets directly with each other.

“Noble brings a trust foundation for asset issuers looking to take advantage of the abundance of opportunity and growth in the Cosmos and IBC ecosystem,” said Karthik Raju, general partner at Polychain Capital.

Noble’s first issuance partner is Circle, and in September, native USDC in Cosmos was launched, allowing IBC-enabled chains to access that stablecoin natively issued on Noble. So far, over 6 million USDC has been issued on Noble since that inception.

"It’s exciting to see Noble establishing a foundational role in the Cosmos ecosystem for native asset issuance, starting with the recent launch of Circle's USDC and the upcoming deployment of Cross-Chain Transfer Protocol (CCTP),” said Wyatt Lonergan, principal at Circle Ventures.

Noble is also set to be the first non-EVM based blockchain to be supported by Circle’s cross-chain (CCTP) which is an on-chain program that facilitates USDC transfers between supported blockchains.

Edited by Stephen Alpher.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Lyllah Ledesma

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Read more about