- Yellow Card Secures $33M Collection C Funding to Strengthen Stablecoin Companies in Africa.
- The corporate operates in 20 African international locations and has processed $3 billion in transactions.
- New funding will enhance Yellow Card's API, increase companies and enhance regulatory engagement.
Yellow Card, certainly one of Africa’s main stablecoin platforms, has secured $33 million in Collection C funding. The spherical, led by Blockchain Capital, brings the corporate's complete fairness funding to $85 million. Yellow Card will use these funds to speed up its development in Africa and enhance its cost options for companies.
Based in 2019, Yellow Card has grown into a number one fintech firm in Africa, working in 20 international locations and processing over $3 billion in transactions. The corporate helps companies handle worldwide funds and entry stablecoins. With this new funding, Yellow Card plans to increase its staff and enhance its merchandise.
Additionally learn: Africa adopts Bitcoin: greater than 110 firms on board
The Collection C spherical included main traders akin to Polychain Capital, Citadel Island Ventures, Block, Inc. and Winklevoss Capital. CEO Chris Maurice stated the fundraising demonstrates the corporate's resilience and dedication to Africa's digital financial system.
Develop companies and attain new markets
Yellow Card will use the brand new capital to increase its companies and enhance its API and widget merchandise, which permit worldwide firms like Coinbase and Block to entry African markets. These instruments additionally assist Pan-African companies make worldwide funds extra simply.
Moreover, Yellow Card is creating new merchandise particularly for the African market and dealing with the continent's regulators to make sure compliance.
Additionally learn: South Africa accelerates the appliance of taxes on cryptocurrencies and audits to observe
Aleks Larsen, Basic Accomplice at Blockchain Capital, expressed his pleasure over Yellow Card's development, saying the way forward for funds lies in quick, inexpensive and open networks. Yellow Card performs a key position within the introduction of stablecoins in Africa.
As the corporate continues to develop, it goals to supply extra companies with entry to stablecoins and higher cost options throughout the continent.
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