Crypto Platform Yellow Card Secures CASP Licence in South Africa

Chris Maurice, Yellow Card Founder

Yellow Card, a leading cryptocurrency platform, has secured a Crypto Asset Service Provider (CASP) licence in South Africa, enabling it to operate within the country’s regulatory framework. This milestone highlights its commitment to compliance and marks a significant step in its expansion across Africa.

Since its founding in Nigeria in 2019, Yellow Card has grown rapidly, now active in 20 African countries and facilitating over $3 billion in transactions. The company is recognized as Africa’s largest licensed stablecoin on-ramp/off-ramp, offering businesses efficient tools to trade stablecoins like USDT, USDC, and PYUSD using local currencies through its Payments API.

In October 2024, Yellow Card raised $33 million in a Series C funding round, bolstering its mission to enhance its product offerings, expand its team, and strengthen regulatory partnerships across the continent. Earlier, in January 2024, the company partnered with Coinbase to improve access to digital assets and enable seamless local currency payments in 20 African countries.

The CASP licence in South Africa cements Yellow Card’s position as a trailblazer in regulated cryptocurrency services, setting a benchmark for fintech firms looking to grow within Africa's dynamic markets.

Source: TechPoint Africa