Yellow Card

Founded in 2019 in Nigeria, Yellow Card initially operated as a local crypto exchange. A pivotal shift occurred in 2020-2021 with the integration of USDT, which quickly grew to 99% of transaction volume, revealing the real demand for stablecoin-based cross-border payments in emerging markets. In 2022, the company raised $33 million in Series C funding led by Blockchain Capital, and in 2023 obtained a CASP license from South Africa's FSCA, becoming one of the first regulated stablecoin infrastructure providers in Africa. The $40 million strategic round in 2024, with participation from SC Ventures, supported expansion into Latin America and Asia. A partnership with Aptos Labs introduced instant, zero-fee stablecoin transfers across Africa, cementing Yellow Card's role as a B2B payment rail rather than a retail exchange. Its network now spans 20 African countries, with cumulative transaction volume exceeding $100 billion.