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African Bitcoin Exchange Yellow Card Receives The Continent's Largest-Ever Bitcoin Investment

Yellow Card — an African Bitcoin exchange — is one of the continent’s trailblazers in cryptocurrency. The company recently announced its raise of a $15 million Series A funding round led by Valar Ventures, Third Prime, and Castle Island Ventures. Square, Coinbase Ventures, and Ventures were also participants in the round. The announcement makes it the largest funding by a B2C crypto exchange in Africa, according to Forbes. In the act for cryptocurrency accessibility, Yellow Card went from its initial launch by its founders — Chris Maurice and Justin Poiroux — in the U.S., to going live in Nigeria in June 2019. “Yellow Card is a very diverse product; in different countries, we have slightly different modus operandi,” Yellow Card’s chief bitcoin officer Munachi Ogueke told Forbes. “But at the end of the day, the focus is still the same—we are bringing access to people that don’t have access to crypto and financial systems.” The company currently operates in six...

Ngozi Nwanji

Sep 27, 2021