It’s been one year since we started Notabene, and what a crazy ride it has been!
Last April, as the world was going into lockdown, pushing the economy further into the unknown, we got together to work on a big challenge. We believed that crypto transactions should be a larger part of the everyday economy. To make this happen, transacting with crypto first had to become safer and easier to use.
And so, we started Notabene. What lay ahead of us was uncertain, but we bet on three things.
First, increasing global uncertainty will push people and businesses to more quickly adopt digital assets and cryptocurrencies. Second, regulators will not budge on the deadlines set for crypto businesses to comply with new requirements. If anything, they may even put on more pressure to limit access to illicit finance as the financial world becomes more globally connected. Finally, our confidence that we have the best team possible to tackle these challenges.
Fast forward to today, and what a year it has been! Our three bets have already started to pay off and there’s even more to look forward to than before.
1. Crypto is here to stay, paving a path for every financial institution to get into the space
We were bullish on crypto, but the speed of global adoption has shocked even us. From Visa launching a settlement layer with USDC, Paypal rolling out crypto for its 370M users, to Defi’s exploding innovation, crypto has roared onto the scene in a big way. Regulators like the OCC have made it possible for any financial institution to start offering crypto products. Momentum is high now, but this is still just the beginning. Tens of thousands of traditional financial companies will be entering the space over the next 5 years. Not to mention the thousands of new companies that have yet to even be created.
2. Regulators are keeping close watch on crypto
Cryptocurrency’s market impact makes it impossible for regulators to ignore any longer. The compliance landscape has been fast-moving. Local regulators have been enforcing the travel rule and other requirements to prevent the flow of illicit finance. The industry has also increasingly been working alongside, providing feedback and commentary to ensure that innovation can continue to prosper.
3. Our team built a strong foundation, and we’re ready for what’s next
This past year, we have created a rock solid team. We learned how to adjust to the new realities of a pandemic lockdown and work together remotely. We are proud of the culture we built and the principles we stand by: we are idealistic and ethically driven in how we build, but we are also pragmatic and keep one foot on the ground.
With this mindset, we launched our product just 4 months after starting Notabene. We’ve been releasing features continuously since, making sure our customers have access to the latest compliance requirements as well as best-in-class features.
Today, we serve crypto companies across 4 continents, including some of the largest exchanges like Luno and Crypto.com. We have partnered with companies like Chainalysis to tackle the evolving regulatory landscape together. It has been a pleasure to work closely with and learn from our clients and partners.
Finally, the support we have received this past year has been incredible. From the Y-Combinator partner and founder community, to our investors, advisors and mentors, you have all been an incredible source of support. To our first employees, we are excited to have you. Thank you all for joining our vision!
But this is just the beginning. We are beyond excited for the road ahead, and here's to many more years to come!
- Alice, Ania, Andres and Pelle
Photo by Erwan Hesry on Unsplash