Yellow Card, GoldBod and Ghana Commodity Exchange are among the latest additions as the regulator tests how digital asset activities fit into the country’s emerging framework.
Plus: 🇿🇦 USD stablecoins can undermine African monetary sovereignty — SARB Governor
Yellow Card told Mariblock that the decision was driven by strong, growing demand for stablecoin-fiat payment services.
Ripple described Africa as a “natural next step” for RLUSD, citing increasing demand among businesses worldwide.
Both firms plan to explore opportunities to drive stablecoin adoption in treasury management and cross-border payments across markets where Yellow Card is regulated.
BoG claims Yellow Pay is offering digital payment services, crypto trading, and stablecoin-based remittances without proper licensing.
Plus: 🇬🇭 Bank of Ghana plans crypto regulations by September; 🇿🇦 Binance tightens rules for South African users
African crypto firm Yellow Card and fintechs Flutterwave and Onafriq are among the Circle Payment Network’s inaugural partners
Plus: 🌍 Tether teams up with Quidax on blockchain education in Africa 🇿🇦 Yellow Card appoints new South Africa country manager
However, both exchanges are reluctant to list the cNGN just yet because of a lack of demand and clear use cases.
Kamogelo Mosime, a former associate at GEMP Group, takes charge of the South African arm of the firm’s operations.
Plus: 🌍 Hedera makes undisclosed ‘strategic investment’ in stablecoin payments firm, Ivorypay. 🌍 Swiss fintech Centi expands African presence with Yellow Card partnership. 🌍 Ethereum layer-2 chain, Lisk, announces completion of first cohort of incubator.
The partnership will help streamline crossborder payments into 20 African countries through stablecoins.
The stablecoin wallet platform won against the likes of Yellow Card and ICP Hub nominated in the same web3 category.
Pan-African exchange, Yellow Card, also secured an FSCA-issued financial service provider license late in the year
Starting in February, Coinbase users in 20 African countries can buy USDC directly from the Coinbase Wallet App.
Plus: 🇿🇦 South Africa could license up to 36 crypto firms this month. 🌍 Yellow Card integrates Block’s open-source protocol for cross-border payments.
TBD said that cross-border transactions were only the first use case it considered for the tbDEX protocol.
Chris Maurice said these regulations should encourage innovation so that economies do not remain stagnant.
Plus: Busha launches a crypto payment service; Chat with Yellow Card CEO; Patrica loses funds in a security breach; Crypto vs. the IMF
