Onboard Wallet, a self-custody wallet developed by Nestcoin, has announced the launch of a USD virtual card that can be funded with stablecoins. According to Onboard, users can use the virtual card to make purchases in 160 countries across the world.

Users of Onboard have the option to fund their wallets using stablecoins from Binance or Trust Wallet, their local bank account, or their Onboard Wallet Balance. The availability of dollar-backed stablecoins provides residents in many African countries with an alternative hedging and saving tool, especially in areas where dollar liquidity is limited.

In September, Nestcoin raised a $1.9 million strategic funding round from Adaverse, Base, and Hashed Emergent to scale Onboard. According to CEO and founder, Yele Bademosi, the development of a virtual card product was already in the works. At the time, Onboard had facilitated on/off ramp services for 10,000 Africans engaging with crypto through a web2 user interface. Unlike other self-custody wallets, Onboard allows users to access their passkey using their emails.

“This is a major step towards our goal of creating access to world-class financial services & bridging the gap between tradFi & digital finance, Bademosi said on his official X account.

As cross-border payments remain challenging in many parts of Africa, fintech companies are embracing stablecoins to enable users to transact beyond the restrictions of traditional financial systems. This innovation has the potential to bridge the trade deficit gap between African countries and the rest of the world.

“We’re excited about the opportunity to bring more people on-chain and provide an easy way to make global payments without any bank restrictions. Money should be borderless, it is with Onboard!,” Bademosi said.