Africa the World's second most populous continent has seen a surge in interest of Bitcoin and other popular cryptocurrencies since the last few years. More companies are growing all over Africa based on cryptocurrencies. A recent report by Arcane Research stated that 'Africa is one of, if not the most, promising regions for the adoption of cryptocurrencies'.
Recently a Nigeria based BINANCE supported Bitcoin Exchange 'Yellow Card' has landed a seed funding worth 1.5 Million USD from big names such as Andreessen Horowitz, Celo and Polychain. The platform mission is 'Financial Inclusion All'
Yellow Card was founded by Chris Maurice (now CEO) with Justin Poiroux in 2016 with the intent of "bringing cryptocurrency to the people who need it most". Maurice was with Jack Dorsey CEO Twitter during his (Dorsey's) last visit to Africa early November to Nigeria, Ethiopia, Ghana and South Africa & has a 'vision' for this technology for the 1.2 Billion people of Africa.
Yellow Card has been growing rapidly further expanding operations in South Africa and Botswana, as Chris Maurice CEO said ,"Crypto will go mainstream in Africa long before any other part of the world. We’ve been breaking our own records over and over"; Further stating that Yellow Card has been adding about 20,000 users per month with $20 million USD monthly trading volumes.
Explaining Bitcoin's practical use particularly in Africa Chris Maurice said that,"There’s no better place for bitcoin to thrive than Africa," further adding that, "crypto will go mainstream in Africa long before the West or any other part of the world."
Yellow Card is presently available in Nigeria, Botswana, South Africa, Namibia, Lesotho, and Eswatini.
Finally All hoping for a good future of cryptocurrencies in Africa.
Thanks for Reading!
