Fintech startup Noah raises $22mln for stablecoin venture

Cryptocurrency start-up Noah has secured $22 million in seed funding and announced a high-profile addition to its leadership team.

Thijn Lamers, former Adyen executive, has joined the crypto-focussed start-up.

The early-stage fintech aims to create a next-generation payments infrastructure using stablecoins (cryptocurrencies pegged to fiat currencies) to enable faster, cheaper, and more transparent global transactions.

The Series A round was led by prominent fintech investors including Palanir co-founder Joe Lonsdale, ex-Unity CEO David Helgason and ex-Adyen CTO Alexander Matthey as well as investment firms Felix Capital and FJ Labs.

Co-founder Shah Ramezani highlighted the startup’s focus on compliance and usability as key differentiators in a crowded field.

Lamers’ presence is expected to accelerate Noah’s commercial partnerships.

His experience at Adyen, a leader in global payments, brings institutional credibility to the project, which is still in stealth mode regarding product launch timelines.