Crypto investment firm Paradigm led the round, with participation from Foresight, Wintermute Ventures and Toronto’s Informal Systems. Noble plans to use the money to hire more staff and develop products that encourage the adoption of stablecoins, crypto assets whose value is typically pegged to the U.S. dollar. (The Logic, Fortune)

Talking point: Noble co-founder Jelena Djuric was inspired to build Noble to bring stablecoins to the Cosmos network of interconnected blockchains following the collapse of Terra in 2022. The failure of the digital asset sparked contagion and a prolonged bear market throughout the crypto sector, but had a particularly heavy impact on Cosmos, where it was widely used. As of Tuesday, Noble had issued US$450 million worth of stablecoins and other assets and facilitated more than US$5 billion in transaction volume, Djuric said on X. Noble is also planning to launch its own stablecoin, which will be called the Noble Dollar.