Sylvia Duruson
Yellow Card reaches a significant milestone with its newly acquired Crypto Asset Service Provider license in South Africa. The cryptocurrency platform strengthens its position in Africa’s financial technology sector through this regulatory achievement, following successful partnerships with global industry leaders Coinbase and Block.
The company’s journey began in Nigeria in 2019, quickly establishing itself as Africa’s premier cryptocurrency platform. Yellow Card now operates across 20 African nations, processing transactions exceeding $3 billion. The platform specializes in stablecoin services, offering businesses seamless access to digital currencies like USDT, USDC, and PYUSD through local payment methods.
Yellow Card’s growth accelerated significantly in October 2024 with a $33 million Series C funding round. These funds support product development initiatives, team expansion, and regulatory compliance efforts across African markets. The investment demonstrates strong confidence in Yellow Card’s vision for accessible digital financial services throughout the continent.
The partnership with Coinbase in January 2024 marked another crucial development. This collaboration enables Coinbase wallet users across 20 African countries to conduct transactions using local currencies through bank transfers and mobile money platforms. The integration streamlines cryptocurrency access for African users, removing traditional barriers to digital asset adoption.
Block’s partnership with Yellow Card in 2023 enhanced cross-border payment capabilities across 16 African nations. This collaboration connects major markets including Nigeria, Ghana, and South Africa, addressing the persistent challenge of international money transfers within Africa. The partnership leverages Block’s expertise through its Cash App and Square platforms to improve financial accessibility.
The South African CASP license represents more than regulatory compliance. It enables Yellow Card to operate within South Africa’s established financial framework, providing customers with regulated cryptocurrency services. This achievement positions Yellow Card as a trusted platform in one of Africa’s most sophisticated financial markets.
Yellow Card’s Payments API facilitates seamless cryptocurrency transactions for businesses. The system supports local currency conversions and provides secure access to major stablecoins. These features make digital asset trading more accessible and efficient for African enterprises and consumers alike.
The company’s commitment to regulatory compliance shapes its expansion strategy. Yellow Card actively engages with regulators across different African jurisdictions, working to establish clear operational frameworks for cryptocurrency services. This approach helps build trust with both authorities and customers.
Yellow Card’s presence in South Africa’s regulated market creates new opportunities for cryptocurrency adoption. The license allows the platform to offer its full range of services while maintaining high security and compliance standards. This development benefits both individual users and businesses seeking reliable digital asset solutions.
The platform’s growth reflects Africa’s increasing engagement with digital currencies. Yellow Card’s regulated services provide essential infrastructure for cryptocurrency adoption across the continent. The combination of local market knowledge, strategic partnerships, and regulatory compliance positions Yellow Card to continue driving financial innovation in Africa.
Through these developments, Yellow Card continues to bridge the gap between traditional and digital finance in Africa. The platform’s expanding network of services and partnerships supports its mission to make cryptocurrency accessible to all Africans, while maintaining the highest standards of regulatory compliance and security.
