Cryptocurrency anti-money laundering (AML) specialist Notabene has introduced Notabene Flow, a stablecoin payment platform designed for high-value business transactions.
Notabene, a firm focused on bringing compliance to crypto transactions, such as applying 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 businesses without safeguards to reverse payments or block fraud, Notabene said. The firm’s new application introduces pull payments, recurring billing and standardized coordination between verified participants, backed by the company’s network of 2,000+ regulated entities.
The platform relies on the Transaction Authorization Protocol, an open standard that functions rather like a Swift-style messaging layer. Notabene partnered with the Global Legal Entity Identifier Foundation (GLEIF), a way of achieving entity verification anchored to the internationally recognized LEI standard, giving every participant a reliable foundation of counterparty trust.
“Cross-border B2B payments have always been slow, expensive, and complex," Pelle Braendgaard, Notabene CEO said. "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."
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