Yellow Card, the leading and first licensed stablecoin on/off ramp in Africa, has successfully closed a Series C funding round of $33 million.

This significant investment was led by Blockchain Capital, with participation from prominent investors such as Polychain Capital, Third Prime, Castle Island Ventures, Block, Galaxy Ventures, Blockchain Coinvestors & Fifth Era, Hutt Capital, and Winklevoss Capital.

Fuelling Growth and Innovation

The fresh infusion of capital will enable Yellow Card to accelerate its growth and innovation. The company plans to:

• Relaunch Product Offerings: Yellow Card will introduce improved products and features to enhance the user experience and meet the evolving needs of its customers.
• Expand API Suite: The company will expand its API suite, providing developers with more tools and capabilities to build innovative applications on top of the Yellow Card platform.
• Scale Team and Systems: Yellow Card will continue to invest in its team and systems to support its growing operations and ensure efficient service delivery.
• Engage with Regulators: The company will actively engage with regulators across Africa to promote responsible cryptocurrency adoption and foster a conducive regulatory environment.

READ ALSO:

Yellow Card Integrates Fireblocks for Enhanced Stablecoin Payments

A Rapid Rise and Strategic Move

Founded in 2019, Yellow Card has experienced rapid growth, quickly becoming Africa’s most funded cryptocurrency exchange. Initially focused on retail customers, the company has strategically pivoted to cater to enterprises, now working with approximately 30,000 businesses across the continent.

The Importance of Stablecoins in Africa

Stablecoins have emerged as a crucial component of Africa’s crypto economy, offering a stable store of value and a cushion against volatile local currencies and inflation.

Yellow Card’s investment in this space underscores the significance of stablecoins in driving financial inclusion and economic development on the continent.

Empowering Businesses Across Africa

Yellow Card CEO and co-founder, Chris Maurice, expressed his enthusiasm for the future, stating, “This fundraise not only demonstrates our resilience but also highlights the vital role of digital assets for businesses across Africa.”

The company’s vision is to empower businesses and individuals by providing seamless access to financial services through innovative digital solutions.

If you’re wondering how to use Yellow Card App, the process is simple: just complete your registration and access the Yellow Card App login to start trading, buying, or selling cryptocurrencies securely.

A Global Reach

Since its inception in Nigeria in 2019, Yellow Card has rapidly expanded its operations to cover 20 African countries. The company has facilitated over $3 billion in transactions across the continent, showcasing its ability to meet the growing demand for reliable and efficient financial services.

The Yellow Card App has quickly become a popular choice for cryptocurrency enthusiasts across Africa, thanks to its user-friendly interface and backing by major investors like Blockchain Capital.

READ ALSO:

African crypto exchange Yellow Card partners with Block

Expanding Reach and Impact

Yellow Card’s API and widget products serve as gateways for businesses to enter the African market. By improving these tools, the company aims to make it even easier for businesses to integrate Yellow Card’s services into their platforms, allowing them to offer their customers convenient and affordable payment options.

A Vote of Confidence

The Series C funding round reflects the strong confidence that investors have in Yellow Card’s business and its potential to transform the African payments landscape. As the company continues to grow and expand, it is on track to play a major role in empowering businesses and individuals across the continent.

A Bright Future for African Crypto

Yellow Card’s successful fundraising round is a testament to the growing maturity and potential of the African cryptocurrency market. With this new investment, the company is well-positioned to further solidify its position as a leading player in the industry and drive the adoption of digital assets across the continent.