Grace Ashiru
Yellow Card, Africa’s largest and first licensed stablecoin on/off ramp, has closed a $33 million Series C equity financing round led by Blockchain Capital, with contributions from Polychain Capital, Third Prime Ventures, Castle Island Ventures, Block, Inc., Galaxy Ventures, Blockchain Coinvestors, Hutt Capital, and Winklevoss Capital.
This financing represents a major milestone for both Yellow Card and the African FinTech industry, affirming the company’s vision and the advancement of stablecoins across the continent, while highlighting their practical applications globally.
This fundraise showcases our resilience and underscores the importance of digital assets for businesses in Africa. We are excited about future opportunities, partnerships, and the journey ahead. I’m proud to collaborate with a remarkable group of investors who share our vision for the industry and the continent.
Since its 2019 launch in Nigeria, Yellow Card has emerged as a pioneering leader, operating in 20 African countries and facilitating over US$3 billion in transactions across the continent.
The newly secured capital will be used to drive growth and expansion, focusing on improving Yellow Card’s API and widget products. These tools enable international businesses, like Coinbase and Block, to access African markets and help Pan-African companies facilitate international payments and manage treasury through stablecoins. Yellow Card is also developing new products for the continent, enhancing its team and systems, and maintaining its leadership in regulatory engagement across Africa.
This financing demonstrates the confidence that both new and existing investors have in the business.
“The future of payments lies in fast, affordable rails for everyone, powered by open networks. We’re thrilled to support Yellow Card as they bring Africa on-chain with stablecoins.”
“Yellow Card remains dedicated to empowering the continent by simplifying international payments, treasury management, and access to hard currency liquidity for businesses of all sizes through stablecoins.”
