Ayodeji Ayenuwa
Following the FTX crash in November 2022, where Nestcoin suffered a significant loss of funds – a massive blow to the startup, the company is now introducing its ingenious and innovative product, Onboard Wallet.
Notably, Onboard is a non-custodial crypto wallet with the benefits of a custodial wallet. With Onboard, Nestcoin aims to offer universal access to world-class financial services and simplify the use of crypto for beginners.
The $1.9 million was raised through a “strategic funding” round led by Hashed Emergent, with the participation of Adaverse, Alter Global, 4DX Ventures, CMT Digital, Base Ecosystem Fund, Magic Fund, and others.
To provide context and outline the vision for Onboard, Yele Bademosi, Nestcoin’s co-founder and CEO, stated, “We want our members to be involved in creating the product they want, so they can create the future they envision. We consider what we have built to be the foundation and invite our users to join our community to build the ideal financial product. Essentially, we are giving you the power to ‘Be Your Own Bank.'”
To put this into perspective, Onboard Wallet essentially offers three things: a seamless user experience, a seedless wallet, and a convenient way to transfer funds directly to a bank account without relying on a centralized exchange. This way, users maintain total and complete control over their wallets.
According to Yele Bademosi, Nestcoin has made investments in multiple products over time, including Lazerpay (now defunct), a platform that assisted users in making, accepting, and managing crypto payments. They also have ‘Compass by Onboard’ (formerly known as Breach) and Metaverse Magna (MVM), which now operates as a standalone business.
Additionally, Nestcoin plans to launch Onboard Virtual cards, enabling users to use and spend their cryptocurrencies as easily as cash.
The new product, Onboard, positions Nestcoin ahead of most crypto and web3 startups.
