Notabene

What Notabene does

Notabene is a regulatory technology company that provides pre-transaction compliance infrastructure for digital asset institutions. Founded in 2020 and headquartered in New York, the company has built a Travel Rule compliance platform that enables virtual asset service providers (VASPs), custodians, banks, and payment providers to verify counterparties and authorize cryptocurrency and stablecoin transactions before on-chain settlement. The platform is built on the Transaction Authorization Protocol (TAP), an open standard governed through Transaction Authorization Improvement Proposals (TAIPs), and includes proprietary technology such as SafePII for encrypted personal data exchange. Notabene's VASP Network connects 2,000+ verified entities across 100+ jurisdictions, and the company holds SOC 2 Type II and ISO 27001 certifications alongside GDPR and PDPA compliance.

The company's product portfolio includes Notabene Transact (transaction authorization and Travel Rule compliance), SafeTransact (compliance dashboard), SafeConnect (counterparty onboarding), and Notabene Flow (an open stablecoin payments platform launched September 2025 that enables pull payments and B2B stablecoin transactions). Notabene generates revenue through subscription pricing for compliance solutions, transaction fees on Flow (with 76.5bps shared with Responding Agents), one-time integration services, and a freemium Sunrise Plan that provides entry-level compliance with up to $10K in transactions. The company sells to regulated digital asset institutions through enterprise field sales, API-first developer integration, self-serve onboarding, and an integration partner channel that includes Fireblocks, Chainalysis, Elliptic, and TRM Labs.

Notabene has raised approximately $24.5 million in disclosed funding across multiple rounds from 2020 through 2024, with a $14.5 million Series B led by DRW VC in November 2024. The company employs 40 people across offices in New York, Zurich, Singapore, Berlin, and London, and serves named enterprise customers including Crypto.com, Bitstamp, OKX, Copper, Zodia Custody, Bitso, Luno, and Flutterwave. Co-founders Pelle Braendgaard (CEO) and Ania Lipinska (CPO) lead the company alongside COO Alice Nawfal.

Name

Notabene

Legal name

Notabene

Website

https://notabene.id

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Notabene provides pre-transaction Travel Rule compliance and counterparty verification infrastructure for regulated digital asset institutions, exchanges, custodians, and payment providers across 100+ jurisdictions, with an expanding open stablecoin payments network.

Ownership category

akta.pro rank

Product category

Digital Asset Compliance Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Invoice, Billing & Subscription Payments (Crypto) (FSADAIAG)

akta.pro secondary industry

Crypto Remittance & Cross-Border Money Transfer Providers (FSADAIAD)

Keywords

• Travel Rule compliance
• Stablecoin payment infrastructure
• Crypto transaction authorization
• Digital asset compliance
• Counterparty verification platform

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Travel Rule Compliance Solutions (Notabene Transact): Subscription-based compliance platform providing end-to-end Travel Rule compliance, counterparty verification, and transaction authorization for regulated digital asset institutions. Revenue generated from platform subscriptions with tiered pricing based on transaction volume and feature access. Converts compliance requirements into a revenue engine through faster settlements and reduced manual review costs.
2. Notabene Flow Stablecoin Payments Network: Transaction fee model where every Notabene Flow payment carries a network fee split between the Responding Agent (institution that receives and settles the payment) and Infrastructure Providers. Participating institutions earn 76.5bps on every transaction they settle as a Responding Agent, turning compliance operations into a revenue driver rather than a cost center.
3. API Integration and Implementation Services: One-time integration services for connecting to the Notabene network. Single API integration covers Travel Rule compliance for all outbound transfers and inbound asset receipt. Implementation support, live training, and SLAs available for enterprise customers.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Notabene provides a pre-transaction decision-making and compliance platform for digital asset institutions, enabling Travel Rule compliance, counterparty verification, and transaction authorization before settlement. Its flagship offerings include Notabene Transact for end-to-end Travel Rule compliance and Notabene Flow, the first open stablecoin payments platform for B2B transactions, both built on the open Transaction Authorization Protocol (TAP).

Product overview

Notabene offers a modular platform architecture centered on pre-transaction compliance and authorization for digital assets. The core products are Notabene Transact (transaction authorization and Travel Rule compliance) and Notabene Flow (open stablecoin payments platform), both built on the Transaction Authorization Protocol (TAP) open standard. Supporting components include SafeTransact (compliance dashboard), SafeConnect (counterparty onboarding), and the VASP Network (verified counterparty directory of 2,100+ institutions). The platform enables financial institutions to automate counterparty verification, Travel Rule data exchange, sanctions screening, and stablecoin B2B payments across 100+ jurisdictions with over $2T in processed transaction volume.

Differentiator

Problem solved

Functional benefit

Brands

• TAP (Transaction Authorization Protocol): An open protocol for authorizing blockchain payments before settlement, designed for any wallet, exchange, or protocol.
• Notabene Flow
• Notabene Transact

Products and services

• Notabene Transact Pre-transaction decision-making platform that automates Travel Rule compliance, counterparty verification, and transaction authorization in real-time at scale for VASPs and regulated financial institutions. Screens counterparties, exchanges Travel Rule data, and processes transactions with straight-through processing rates above 85%.
• Notabene Flow

Quantifiable outcome

• 85% of transactions process straight-through with no manual intervention
• +3 more outcomes

Named customers20 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

16 partnerships are on record, tiered core and flagship.

• The Better Money CompanycoreStrategic or Co-development Partner · 1 January 2026Stablecoin clearinghouse partnership integrated into Notabene Flow. Runs par-value clearing directly with issuers (like banks settle between themselves) rather than trading on open market. Enables payer to send any stablecoin while recipient receives preferred stablecoin at exact amount.
• BitsoflagshipStrategic or Co-development Partner · 29 September 2025Founding Partner of Notabene Flow. Leading Latin American crypto exchange enabling stablecoin B2B payments on the network. Ben Reid, Head of Stablecoins at Bitso, provides quote endorsing Notabene Flow for cross-border business payments.
• Borderless.xyzflagshipStrategic or Co-development Partner · 29 September 2025Founding Partner of Notabene Flow. Global stablecoin payment network with operations across 70+ countries including Bridge, Bitso, and Yellow Card partnerships. CEO Kevin Lehtiniitty endorses open standards approach.
• DfnscoreStrategic or Co-development Partner · 29 September 2025Founding Partner of Notabene Flow. Wallet infrastructure provider offering custody and settlement layer for Flow network participants.
• FlutterwavecoreStrategic or Co-development Partner · 29 September 2025Founding Partner of Notabene Flow. African payments technology company bringing cross-border stablecoin payment capabilities to the network.
• GnosiscoreStrategic or Co-development Partner · 29 September 2025Founding Partner of Notabene Flow. Blockchain infrastructure provider contributing to open stablecoin payment ecosystem.
• MoneriumcoreStrategic or Co-development Partner · 29 September 2025Founding Partner of Notabene Flow. E-money institution providing fiat-backed stablecoin issuance and settlement on the network.
• OrbitalcoreStrategic or Co-development Partner · 29 September 2025Founding Partner of Notabene Flow. Blockchain payments infrastructure enabling cross-border stablecoin settlement.
• PortalcoreStrategic or Co-development Partner · 29 September 2025Founding Partner of Notabene Flow. DeFi and cross-chain platform bringing decentralized finance integration to the network.
• WalapaycoreStrategic or Co-development Partner · 29 September 2025Founding Partner of Notabene Flow. Payments provider enabling stablecoin B2B payment flows.
• Yellow CardcoreStrategic or Co-development Partner · 29 September 2025Founding Partner of Notabene Flow. African stablecoin payment network operating across multiple African markets.
• Zodia CustodyflagshipStrategic or Co-development Partner · 29 September 2025Founding Partner of Notabene Flow. Institutional digital asset custodian enabling stablecoin payments from client custody accounts. CPO Anoosh Arevshatian endorses trust and interoperability benefits.
• GLEIF (Global Legal Entity Identifier Foundation)coreStrategic or Co-development Partner · 1 January 2025Entity verification anchored to internationally recognized LEI (Legal Entity Identifier) standard. Provides reliable foundation of counterparty trust across 3.05 million LEIs issued globally with 93%+ active rate.
• FireblockscoreTechnology or IntegrationBest-in-class infrastructure partner. Fireblocks' Chief Legal & Compliance Officer Jason P. Allegrante provides endorsement quote on partnership value for customer compliance across jurisdictions.
• ChainalysiscoreTechnology or IntegrationBlockchain analytics integration partner in Notabene's connected ecosystem. Provides transaction monitoring and sanctions screening capabilities.
• EllipticcoreTechnology or IntegrationBlockchain analytics and AML compliance integration partner providing crypto risk and compliance solutions.

Scale indicators12 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• VerifyVASP: VerifyVASP is a direct competitor focused exclusively on Travel Rule compliance for virtual asset service providers, offering counterparty verification and VASP-to-VASP messaging - the same core use case as Notabene Transact.
• Shyft Network: Shyft builds Travel Rule compliance and verifiable credential infrastructure for crypto institutions, competing directly with Notabene on FATF Recommendation 16 workflows and counterparty data exchange.
• 21Analytics (CODE11): 21Analytics operates a Travel Rule compliance solution for Swiss and global VASPs, directly competing with Notabene on counterparty due diligence and Travel Rule data exchange.

Broad incumbents

• Chainalysis: Chainalysis is the largest blockchain analytics and compliance platform, offering transaction monitoring and AML that overlap with Notabene's compliance positioning, though it focuses on post-transaction analytics rather than pre-settlement authorization.
• TRM Labs: TRM Labs provides blockchain intelligence and compliance tooling for crypto institutions, an integration partner of Notabene that also competes in adjacent AML and fraud detection categories.
• Elliptic: Elliptic offers blockchain analytics, AML, and compliance solutions for digital asset institutions, covering overlapping compliance needs to Notabene but with a focus on analytics rather than pre-transaction authorization.
• Fireblocks: Fireblocks is a leading digital asset custody and settlement platform with an integration partnership with Notabene; its compliance and policy engine capabilities overlap with portions of Notabene's offering.

Emerging players

• ComplyAdvantage: ComplyAdvantage delivers AML and financial crime detection used by crypto firms; it complements Notabene's stack through integration but also competes in the broader crypto compliance workflow.
• Sumsub: Sumsub provides KYC/AML and transaction monitoring for crypto and fintech firms, offering overlapping compliance capabilities to Notabene at the customer onboarding and monitoring layer.
• Crystal Blockchain (Bitfury): Crystal Blockchain provides blockchain analytics, AML, and Travel Rule-adjacent compliance for digital asset businesses, competing in the same regulated institution buyer segment as Notabene.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/notabene_id
• LinkedInlinkedin.com/company/notabene-id

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds6 records

Investors22 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Notabene