- Yellow Card has secured $33 million in Sequence C funding to strengthen its stablecoin companies in Africa.
- The corporate operates in 20 African nations and has processed $3 billion in transactions thus far.
- The brand new funding will strengthen Yellow Card's API, broaden its companies, and enhance regulatory engagement.
Yellowcard, Africa’s main stablecoin platform, has secured $33 million in Sequence C funding. The spherical, led by Blockchain Capital, brings the corporate's complete fairness raised to $85 million. Yellow Card will use the funding to speed up progress throughout Africa and strengthen its fee options for companies.
Based in 2019, Yellow Card has turn out to be a distinguished fintech firm in Africa, working in 20 nations 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 broaden its crew and enhance its product.
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The Sequence C spherical included participation from main buyers together with Polychain Capital, Citadel Island Ventures, Block, Inc., and Winklevoss Capital. CEO Chris Morris mentioned the most recent funding demonstrates the corporate's resilience and dedication to Africa's digital economic system.
Increasing companies and growing new markets
Yellow Card will use the brand new funding to broaden its companies and enhance its API and widget merchandise, giving worldwide corporations comparable to Coinbase and Block entry to the African market. These instruments may also assist pan-African companies make worldwide funds extra simply.
Moreover, Yellow Card develops new merchandise particularly for the African market and works with regulatory authorities throughout Africa to make sure compliance.
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Aleks Larsen, normal companion at Blockchain Capital, mentioned the way forward for funds depends on quick, inexpensive and open networks and expressed his pleasure for Yellow Card's progress. Yellow Card performs a key function in bringing stablecoins to Africa.
As the corporate continues to develop, it goals to supply entry to stablecoins and higher fee options to extra companies throughout the continent.
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