Pioneering stablecoin platform Yellow Card has successfully closed its Series C funding round, raising $33 million.
According to Intelligent CIO, the investment was led by Blockchain Capital, with contributions from notable companies including Polychain Capital, Third Prime Ventures, Castle Island Ventures, Block, Inc., Galaxy Ventures, Blockchain Coinvestors, Hutt Capital, and Winklevoss Capital. I was seen.
This funding milestone reflects growing confidence in Africa’s fintech industry and highlights the potential for stablecoins to revolutionize financial interactions on the continent. Since its founding in Nigeria in 2019, Yellow Card’s influence has spread to 20 African countries and facilitated more than $3 billion in transactions.
The influx of new capital will primarily fund enhancements to Yellow Card’s API and widget products. These tools are essential for international companies, including industry giants like Coinbase and Block, to access African markets and efficiently manage international payments. The funding will also support the development of new products tailored to African markets, strengthening of operational systems and continued regulatory efforts across Africa.
Yellow Card is determined to remain at the forefront of payments innovation in Africa, enabling businesses of all sizes to make international payments, manage their finances and access foreign currency liquidity through stablecoins. Masu.
Chris Maurice, co-founder and CEO of Yellow Card, said: “This funding not only demonstrates our resilience, but also the critical role of digital assets for businesses across Africa. He expressed his enthusiasm for the future. We are excited about the opportunity, the partnership, and what lies ahead. And we are proud to work with an incredible group of investors who share our vision for the industry and the continent. ”
Aleks Larsen, general partner at Blockchain Capital, highlighted the transformative impact of Yellow Card, saying, “The future of payments lies in fast, affordable rails powered by open networks and available to everyone.Yellow Card We couldn’t be more excited to support Yellow Card as it brings Africa on-chain with its stablecoin.”
Prior to this round, Yellow Card was a prominent funding source, reaching $85 million in cumulative equity financing across various rounds.
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