Yellow Card raises $33M in Series C Round to expand stablecoin use, target unbanked populations, and grow services in Africa.
Yellow Card, an African stablecoin platform, has secured $33 million in a Series C funding round. Blockchain Capital led the round, which also received support from Polychain Capital, Third Prime Ventures, Hutt Capital, Castle Island Ventures, Blockchain Coinvestors, Galaxy Ventures, and Winklevoss Capital.
This successful raise brings Yellow Card’s equity funding to $85 million. This is a milestone achievement for not only the company but also the overall financial technology industry in Africa. This funding will enable Yellow Card to grow its services and promote the usage of stablecoins in Africa and other parts of the world.
That is why Yellow Card makes it easy for African users to buy, sell, and store stablecoins. It addresses crucial issues in the area, such as inflation and restricted access to conventional financial channels. Through e-currencies such as Bitcoin, which is backed with more stable and secure values, such as the US dollar, Yellow Card makes it more accessible.
In a statement, the company said stablecoins are crucial, especially to the African region, in terms of financial solutions. The Yellow Card company has faith in the stability that digital currencies can bring and in their ability to grant people more control over their money.
Yellow Card Aims to Bring Financial Services to the Unbanked with $33M Funding
The funding round also shows the increasing viability of stablecoins in the African market. As more people embrace cryptocurrencies to meet their financial needs, Yellow Card will be well placed in the region.
With the new capital received, the company intends to expand the number of targeted users and the range of services provided. The company aims to target people without access to banking facilities and bring financial services closer to them. It will also invest in developing new products to meet the increasing demand for virtual currencies.
This Series C round is a big milestone for Yellow Card and shows that stablecoins are becoming increasingly relevant in the global economy. Such funding indicates that the investors are confident in the platform’s direction in the quest to popularise the use of digital currencies in Africa.
