Yellow Card: Innovations and Vision for the African Cryptocurrency Market
Yellow Card – Innovative Cryptocurrency Platform in the African Market
In a time when the blockchain and cryptocurrency sectors in Africa are gaining increasing investment support, one of the standout firms in this dynamic market is Yellow Card. Yellow Card, a cryptocurrency platform founded in the USA and launched in Nigeria in 2019, has recently achieved a significant investment breakthrough.
A Milestone Moment – Series C Investment
The latest news reveals that Yellow Card has secured a Series C investment of an impressive $33 million, raising the company’s total funding to at least $88 million. This investment marks a shift in Yellow Card’s strategy, which now focuses on partnering with businesses rather than solely targeting retail customers. This move has led to an increase in the minimum transaction amount and attracted larger entities to utilize Yellow Card services.
Expansion and Business Partnerships
Currently, Yellow Card collaborates with approximately 30,000 businesses across Africa and beyond, assisting them in efficient payment and cash management. The company mainly focuses on supporting stable coins, which have become key components of the African cryptocurrency economy, especially in countries with unstable local currencies.
Rapid Growth and Diversification of Offerings
Yellow Card has seen a significant increase in transaction volume, rising from $1.7 billion at the beginning of 2023 to over $3 billion. This growth has resulted in a sevenfold increase in the company’s revenues, reaching “many eight-figure numbers.” Yellow Card offers two main products: the core platform and a set of integrative APIs, acting as “Africa-as-a-service.”
Development Plan and Vision for the Future
Yellow Card has ambitious plans for the future, including developing new products, strengthening its team, and deepening dialogue with regulators across the African continent. The company believes that African regulators are more receptive to innovation and have a better understanding of cryptocurrency technology compared to other regions. Yellow Card’s goal is to continuously strive for clear regulatory frameworks on a global level, while highlighting Africa’s advantage in its friendly approach to cryptocurrencies compared to other markets, such as the United States.
