onco, a digital asset brokerage firm focusing on the Latin American region, has raised over $10 million in a seed funding round led by top crypto investors. The fresh capital will help Nonco scale operations across key Latin American hubs to capture accelerating crypto adoption in the emerging markets.
Background on Nonco and Latin American Crypto Opportunity
Founded earlier this year as a spin-off from Hong Kong-based OSL, Nonco currently has offices in London, Miami, Mexico City, and São Paulo.
The brokerage aims to become the leading platform for digital asset trading and services tailored to Latin America.
Crypto analytics firm Chainalysis notes that "grassroots adoption is strong" across countries like Brazil, Argentina, and Mexico, which rank among the top 20 nations for crypto usage globally.
Reports show cryptocurrency playing an important economic role in regions facing currency volatility and inflation. El Salvador notably became the first country to make Bitcoin legal tender.
Strong Investor Support to fuel Regional Growth
Lead investors in Nonco's seed round included former US Comptroller of the Currency Brian Brooks' Valor Capital Group and Web3 venture fund Hack VC.
Additional backers were Libra Capital Ventures, Morgan Creek Digital, Bastion Trading, Lvna Capital, and others.
Nonco CEO Fernando Martinez said the funding will help the company "establish a new standard that prioritizes technology and service while ensuring institutional risk management and compliance."
Nonco forecasts capture more of the growing US interest in Latin American crypto aligned with the region's rising trade and financial ties.
Capturing LatAm's Crypto Momentum
With an estimated quarter of global crypto activity originating in North America, Nonco is well-positioned to facilitate expanding two-way crypto flows between the US and Latin countries like Mexico, Brazil, and Argentina spearheading regional adoption.
Chainalysis data shows six of the top 20 countries for crypto usage located in Latin America, underlining the region's growing influence.
Nonco's localized platform and on-the-ground operations equip it to capitalize on grassroots crypto adoption strengthening economic participation for Latin citizens.
The $10 million funding round will fuel Nonco's plans to lead the emerging digital asset sector and capture LatAm's crypto momentum.
Backed by top crypto investors, Nonco is well-financed to scale key functions and expand its network across high-potential Latin American economies. The company understands grassroots consumer needs in the region and can offer tailored trading and custody solutions.
As more Latin Americans embrace cryptocurrency for its financial inclusion and currency benefits, Nonco is positioned to become their preferred access point and help unlock broader crypto participation in the emerging markets.