Noah Raises £16.3m Seed Funding for Crypto Stablecoin Initiative

Noah, a London-based crypto stablecoin firm founded by former THG and Adyen executives, has successfully raised £16.3 million in seed funding. The investment was led by prominent investors LocalGlobe, Felix Capital, FJ Labs, and notable angel investors including Joe Lonsdale and David Helgason. Noah aims to revolutionize global cross-border payments, which are currently hindered by inefficiencies and high fees, by leveraging stablecoins. This digital currency, pegged to stable assets such as the US dollar, promises instant, cost-effective, and secure transactions without traditional banking barriers. With Thijn Lamers, former EVP global sales at Adyen, as its president, Noah seeks to create a global payment network that makes sending money as easy as sending a text. Stablecoin transfer volumes have significantly increased, with Noah already serving major clients across various sectors. The firm is also forming strategic alliances with Circle and Paxos to enhance its impact. Noah envisions a profound change in global finance, projecting a $2 trillion stablecoin market by 2028.