Starlight to roll-out product to simplify crypto for Web 3.0 users

New York-based startup Starlight is endeavoring to simplify the crypto ecosystem, which is crowded with disjointed tools, especially for first-time users of Web 3.0.

The company aims to ease the process of onboarding companies into the crypto ecosystem by rolling out a product that allows people and businesses to set up cryptocurrency wallets, and constantly track and manage their digital assets all in one place, Gray Nguyen, Co-Founder, and CEO, of Starlight, stated.

Starlight wants to streamline the way cryptocurrency users establish wallets and manage spending by joining “all major exchanges” of cryptocurrencies such as Coinbase, Gemini, and Kraken. Currently, onboarding can take months. So, Starlight decided to put their Decentralized Autonomous Organizations (DAO) tools project on hold and build the most wanted solution instead.

For example, Sprout and Bitwage help businesses navigate to supplement their employees with cryptocurrencies, while start-ups such as Paysail allow businesses to make cross-border B2B payments with cryptocurrencies.

Starlight’s main customers are companies that need to convert some of their cash into cryptocurrencies, many of which are digital natives, but Web3.0 is new to them. Nguyen and Starlight Co-Founder Ben Yang see traction in products from cryptocurrency native entities, including DAOs. Ultimately, the duo hopes that Starlight will be able to meet the needs of all businesses that need crypto to interact with the “new economy” of Web 3.0.

According to Nguyen, Starlight is still in private beta mode, but the product will be available in the coming months. Although the platform only supports “a handful” of cryptocurrencies today, Starlight’s plans are to support several major stable coins and cryptocurrencies at the time of launch.

Nguyen pointed out that startups are actively working to add support for the Avalanche and Solana blockchains and be “chain agnostic”. Starlight decides which cryptocurrencies to support based on the user’s request, rather than making its own judgment on one.

While the platform will be offered to users for free, Starlight will ultimately provide its customers with the ability to bet cryptocurrencies and earn revenue through other sources such as getting a percentage of the yield they earn.