Yellow Card, a major stablecoin exchange focused on Africa, has teamed up with Coinbase, a US-based cryptocurrency exchange.
This partnership aims to make it easy for users in 20 African countries to access USDC and digital assets.
Starting in February, Coinbase users in these countries can buy USDC directly from the Coinbase Wallet app. Wallet users will also be able to send USDC without fees on popular social media platforms like WhatsApp, iMessage, Telegram, and email.
This collaboration allows Coinbase wallet users in Africa to make payments in their local currency through local bank transfers and mobile money, offering a smoother customer experience and hassle-free KYC, according to Yellow Card.
As part of the partnership, the new Yellow Card Widget, a payment API, has been integrated into the Coinbase wallet. This integration enables Coinbase users to utilize payment methods available in over 20 African countries.
Additionally, Yellow Card customers can now send and receive USDC via Coinbase’s Layer 2 solution, Base. Launched in August 2023, Base is an Ethereum Layer 2 solution promising faster transaction speeds and lower fees, making USDC transfers more affordable.
Yellow Card, founded in Nigeria in 2019 by Chris Maurice (CEO) and Justin Poiroux (CTO), claims to be one of Africa’s largest stablecoin on/off ramps, serving users from 20 countries. The platform secured a $40 million Series B funding in late 2022 and obtained a virtual asset provider licence in Botswana.
This collaboration is seen as a significant step in enabling more Africans to “participate in the future of finance,” as highlighted by Chris Maurice, the CEO of Yellow Card.
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