Base Ecosystem Fund,Hashed Emergent invest $1.9M in Nestcoin to scale its Onboard product TechCrunch

News Summary

A virtual card product that allows users to spend stablecoins across 160+ countries is also in the works.Two years ago, investors pushed money into blockchain technologies at a stunning rate, carried away by bullish optimism and frenzy buying of NFTs, DeFi, and web3 projects.
Adaverse and Base Ecosystem Fund, two new investors, also participated.It’s been almost a year since the implosion of the cryptocurrency exchange FTX caused Nestcoin, which raised $6.45 million in early 2022, to lose millions in assets (cash and stablecoins).
On the other hand, Onboard claims to safeguard users’ assets with “secure key management and multifactor authentication.”Similarly, Onboard, which isn’t disclosing its transaction volumes yet, provides a P2P marketplace for merchants to earn profits by trading digital assets.
We are excited to work together to bring the next million builders and billion users onchain together,” Jesse Pollak, creator of Base, said of the investment.
The company had planned to create, invest in, and operate web3 products for customers in frontier markets across decentralized finance (DeFi), media, digital art, and gaming.These unexpected events have required Nestcoin to reevaluate its objectives, CEO Yele Bademosi told TechCrunch.
Coinbase’s goal with Base is to “make onchain the next online and onboard over 1 billion users into the crypto economy.” Onboard is integrated into the Base ecosystem of decentralized apps (dApps).

Base Ecosystem Fund,Hashed Emergent invest $1.9M in Nestcoin to scale its Onboard product | TechCrunch

News Summary

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