- Yellow Card secures $33M in Collection C funding to help stablecoin companies in Africa.
- The corporate operates in 20 African nations and has processed USD 3 billion in transactions.
- The brand new funding will increase the Yellow Card API, increase companies and enhance regulatory engagement.
Yellow Card, the main stablecoin platform in Africa, has secured $33 million in Collection C funding. The spherical led by Blockchain Capital brings the corporate's whole fairness funding to $85 million. Yellow Card will use the funding to speed up its progress throughout Africa and enhance its fee options for companies.
Based in 2019, Yellow Card has grow to be a distinguished fintech agency in Africa, working in 20 nations and processing over $3 billion in transactions. The corporate helps companies handle worldwide funds and achieve entry to stablecoins. With this new funding, Yellow Card plans to increase its crew and enhance its merchandise.
Additionally Learn: Africa Embraces Bitcoin: 110+ Companies On Board
The Collection C spherical included main traders akin to Polychain Capital, Fortress Island Ventures, Block, Inc. and Winklevoss Capital. CEO Chris Maurice mentioned the gathering demonstrates the corporate's resilience and dedication to Africa's digital financial system.
Increasing companies and coming into new markets
Yellow Card will use the brand new capital to increase its companies and enhance its APIs and widgets that allow worldwide corporations like Coinbase and Block to entry African markets. These instruments additionally assist pan-African corporations make worldwide funds extra simply.
As well as, Yellow Card develops new merchandise particularly for the African market and works with regulators throughout the continent to make sure compliance.
Additionally Learn: South Africa Accelerating Crypto Tax Enforcement, Audits to Observe
Blockchain Capital Common Associate Aleks Larsen expressed his enthusiasm for the expansion of Yellow Card, saying that the way forward for funds is determined by quick, inexpensive and open networks. Yellow Card performs a key function in bringing stablecoins to Africa.
As the corporate continues to develop, it goals to offer extra companies entry to stablecoins and higher fee options throughout the continent.
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