Cryptoforeign money anti-money laundering (AML) specialist Notabene has launched Notabene Stream, a stablecoin fee platform designed for high-value enterprise transactions.
Notabene, a agency centered on bringing compliance to crypto transactions, corresponding 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 stated. The agency’s new software introduces pull funds, recurring billing and standardized coordination between verified members, backed by the corporate’s community of two,000+ regulated entities.
The platform depends on the Transaction Authorization Protocol, an open normal that capabilities fairly like a Swift-style messaging layer. Notabene partnered with the International Authorized Entity Identifier Basis (GLEIF), a manner of reaching entity verification anchored to the internationally acknowledged LEI normal, giving each participant a dependable basis of counterparty belief.
“Cross-border B2B funds have all the time been gradual, costly, and sophisticated,” Pelle Braendgaard, Notabene CEO stated. “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.”
