Yellow Card, a major African cryptocurrency platform, has raised $33 million in a funding round led by Blockchain Capital to expand its business-to-business (B2B) services across Africa. This marks a significant shift from its initial focus on retail customers to scaling its crypto infrastructure for businesses.
The funding will enable Yellow Card to enhance crypto payment systems for businesses, streamlining cross-border transactions and offering improved liquidity solutions. The company is responding to the growing demand for blockchain-powered financial services in Africa, where traditional banking often proves inefficient and costly.
Founded in 2018, Yellow Card initially catered to retail consumers but has now identified a strong opportunity in the B2B market. The company aims to simplify financial processes for African businesses, particularly in markets like Nigeria, Kenya, and South Africa.
This funding round, totaling $33 million, will help Yellow Card cement its presence in key regions. African nations are increasingly turning to digital currencies to manage foreign exchange limitations and navigate banking challenges, making this the right moment for Yellow Card’s pivot.
Blockchain Capital highlighted that this investment will drive broader crypto adoption in Africa, which is becoming a crucial hub for fintech innovation. Other notable investors joined the round, recognizing the long-term potential of Africa’s growing crypto ecosystem.
By focusing on the B2B sector, Yellow Card aims to increase crypto accessibility for businesses, allowing them to participate in the global digital economy. This move is part of a larger trend of institutional crypto adoption in emerging markets, where blockchain technology is seen as a solution for financial inclusion.
