- Yellow Card secures $33 million in Series C funding to boost stablecoin services in Africa.
- The company operates in 20 African countries and has processed $3 billion in transactions.
- New funding will enhance Yellow Card’s API, expand services, and improve regulatory engagement.
Yellow Card, a leading stablecoin platform in Africa, has secured $33 million in Series C funding. The round, led by Blockchain Capital, brings the company’s total equity financing to $85 million. Yellow Card will use the funds to accelerate its growth across Africa and enhance its payment solutions for businesses.
Founded in 2019, Yellow Card has become a prominent fintech firm in Africa, operating in 20 countries and processing over $3 billion in transactions. The company helps businesses manage international payments and access stablecoins. With this new funding, Yellow Card plans to expand its team and improve its products.
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The Series C round included major investors like Polychain Capital, Castle Island Ventures, Block, Inc., and Winklevoss Capital. CEO Chris Maurice said the fundraise demonstrates the company’s resilience and commitment to Africa’s digital economy.
Expanding Services and Reaching New Markets
Yellow Card will use the new capital to expand its services and improve its API and widget products, which allow international companies like Coinbase and Block to access African markets. These tools also help Pan-African companies make international payments more easily.
In addition, Yellow Card is developing new products specifically for the African market and is working with regulators across the continent to ensure compliance.
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Blockchain Capital General Partner Aleks Larsen expressed his excitement about Yellow Card’s growth, saying the future of payments relies on fast, affordable, and open networks. Yellow Card is playing a key role in bringing stablecoins to Africa.
As the company continues to grow, it aims to provide more businesses with access to stablecoins and better payment solutions across the continent.
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Source: https://coinedition.com/yellow-card-raises-33-million-to-expand-stablecoin-access-in-africa/