Nestcoin-owned Onboard has launched its virtual cards

Nestcoin’s Onboard joins Bitmama and Bitnob in the growing trend of African crypto companies offering virtual cards.

Nestcoin-owned Onboard has launched its virtual cards
Image source: Onboard, Freepik | Design by Ifeoluwa Awowoye for Mariblock.

Onboard, a self-custody service built by crypto startup Nestcoin has launched United States dollar-denominated virtual cards that can be funded with Nigerian naira (NGN) and stablecoins. 

Quick facts

  • According to CEO Yale Bademosi, the cards, which attract a $3 creation fee, work for purchases in about 160 countries.
  • Onboard is the latest of many crypto startups introducing virtual cards.

Key quote 

Bademosi said:

 “This is a major step towards our goal of creating access to world-class financial services & bridging the gap between tradFi & digital finance.”

Some background

  • In September, Nestcoin announced raising a $1.9 million funding round to strengthen the growth of Onboard.
  • In March, Bademosi shared in a social media post that Nestcoin had pivoted to focus on Onboard after the company’s capital got stuck in the failed cryptocurrency exchange FTX.
  • Nestcoin had primarily operated as a venture studio, investing in and incubating Web3 products. Some of its products included the gaming project MVM Magna and financial products Nubian and Onboard. It famously invested in now-defunct crypto payment service Lazerpay.

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