Nestcoin has secured a $1.9 million strategic funding round. This significant achievement, according to founder Yele Bademosi who made the announcement on X, accentuates a vote of confidence in Nestcoin’s core mission – to establish universal access to top-tier financial services.
The strategic funding round was led by the esteemed Hashed Emergent team, with the participation of Adaverse Accelerator, Coinbase L2 Base, Alter Global, Magic Fund, CMT Digital, 4DX Ventures, and several angel investors. Together, these backers have propelled Nestcoin one step closer to transforming their visionary goals into tangible reality.
Nestcoin stands at the forefront of a financial revolution, recognizing the limitations of traditional finance in addressing the demands of the future. The freshly secured capital will be channeled towards the realization of Nestcoin’s project – the Onboard wallet — a borderless digital money app for anyone anywhere. The app is poised to make access to financial services easier for people across the globe.
At its core, Yele said, Nestcoin is guided by a simple yet profound belief: everyone, regardless of their geographical location, should have unfettered access to high-quality financial services. And this is evident in the user-friendly self-custody digital wallet, designed to make financial empowerment a seamless experience for all.
In February of last year, Nestcoin successfully raised $6.45 million in a seed round to expedite the adoption of cryptocurrency. Following suit, in September of the same year, Metaverse Magna, a gaming DAO that caters to the interests of gamers, investors, developers, and guild operators, secured $3.2 million in seed funding. Metaverse Magna operates as an independent entity within the broader Nestcoin ecosystem.
However, in November, Nestcoin faced a setback when the crash of FTX, a crypto exchange, impacted its operations. Yele Bademosi, the CEO, took to Twitter to explain that their assets were held by the now-failed and bankrupt FTX. Consequently, Nestcoin had to make the difficult decision of letting go of some of its staff members.
In August, Brian, the CEO of Coinbase, expressed his enthusiasm for Nestcoin’s latest addition, considering it one of the most exciting developments in the world of crypto.
With the newly acquired funds, Nestcoin is now poised to expand its latest venture, the Onboard wallet, and work towards its goal of providing seamless financial services to individuals worldwide.