Crypto AML Firm Notabene Introduces Compliance Platform for Stablecoin Payments

Cryptocurrency anti-money laundering (AML) specialist Notabene has launched Notabene Flow, a stablecoin cost platform designed for high-value enterprise transactions.

Notabene, a agency targeted on bringing compliance to crypto transactions, akin to making use of the so-called “Travel Rule,” said its platform adds features long absent from crypto rails in an emailed statement on Monday. These include payment authorization, invoicing and dispute resolution, to make stablecoin transfers viable.

Institutional firms such as Zodia Custody, Bitso and Borderless are among the initial adopters, looking to combine stablecoin speed with compliance standards familiar to traditional finance (TradFi).

There’s a lot happening around stablecoin payments at the moment, including the announcement this week that Swift, the long-established interbank messaging platform, will unveil its own blockchain-based stablecoin system for payments.

An obstacle to stablecoin payments is that most crypto transactions are “push-only,” leaving companies with out safeguards to reverse funds or block fraud, Notabene mentioned. The agency’s new utility introduces pull funds, recurring billing and standardized coordination between verified individuals, backed by the corporate’s community of two,000+ regulated entities.

The platform depends on the Transaction Authorization Protocol, an open commonplace that features reasonably like a Swift-style messaging layer. Notabene partnered with the Global Legal Entity Identifier Foundation (GLEIF), a means of attaining entity verification anchored to the internationally acknowledged LEI commonplace, giving each participant a dependable basis of counterparty belief.

“Cross-border B2B funds have at all times been sluggish, costly, and complicated,” Pelle Braendgaard, Notabene CEO mentioned. “Stablecoins are the first real opportunity to change that, but these high-value payments need a trust framework to succeed at scale. Notabene Flow delivers that framework.”