Noble Raises $3.3 Million in Seed Round Led by Polychain Capital

According to CoinDesk, NASD Inc., the company behind Noble, an asset issuance chain designed for communication between blockchains, has raised $3.3 million in a seed round. The funding round was led by Polychain Capital and included participation from Borderless Capital, Circle Ventures, and Wintermute Ventures, among others. Noble was created for native asset issuance in Cosmos and is part of the inter-blockchain communication protocol (IBC) that helps transport data between blockchains. IBC also enables users to exchange assets directly with each other.Karthik Raju, general partner at Polychain Capital, said, 'Noble brings a trust foundation for asset issuers looking to take advantage of the abundance of opportunity and growth in the Cosmos and IBC ecosystem.' Noble's first issuance partner is Circle, and in September, native USDC in Cosmos was launched, allowing IBC-enabled chains to access that stablecoin natively issued on Noble. Since its inception, over 6 million USDC has been issued on Noble. Wyatt Lonergan, principal at Circle Ventures, commented on Noble's role in the Cosmos ecosystem for native asset issuance, starting with the recent launch of Circle's USDC and the upcoming deployment of Cross-Chain Transfer Protocol (CCTP).Noble is also set to be the first non-EVM based blockchain to be supported by Circle’s cross-chain (CCTP), an on-chain program that facilitates USDC transfers between supported blockchains.