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Africa-Focused Crypto Exchange Yellow Card Bags Africa's 'Disrupter of the Year' Award

source-logo  news.bitcoin.com 22 November 2023 13:25, UTC

Yellow Card, the Africa-focused crypto exchange, recently won the African financial industry’s 2023 “Disrupter of the Year” award. The crypto exchange’s CEO described the award as a recognition of Yellow Card’s role in “solving important, practical problems across the continent for businesses.”

Award Reserved for Businesses Demonstrating ‘Resilience in Complex Times’

In what has been described as a first for a crypto company in Africa, Yellow Card, the Africa-focused cryptocurrency exchange, was recently awarded the financial industry’s “Disrupter of the Year” award. To win this year’s prize, Yellow Card, which is headquartered in Nigeria, beat investment platforms Bamboo and Ejara, financier Sparkle, and payment platform Moniepoint.

Join us to welcome the newest addition to the Yellow Card team!🥳👏 We've just bagged the prestigious "AFIS Disrupter of the Year Award!"#AFISAWARDS #DisrupteroftheYear #GoCryptoWithYellowCard pic.twitter.com/5qp9A8QgCv

— Yellow Card App (@yellowcard_app) November 17, 2023

According to the Africa Financial Industry Summit (AFIS), the recognition given to Yellow Card at this year’s event is reserved for “a young company that has demonstrated resilience in these complex times and whose innovation represents a market disruption.” In addition, the award-winning company’s activity should have increased significantly in the year under review.

Chris Maurice, the founder and CEO of the crypto exchange, said the award vindicates his firm’s stablecoin bet.

“This award is further validation that our team is solving important, practical problems across the continent for businesses. We have come a long way for a stablecoin company to win a traditional finance award voted by judges who are all bankers,” Maurice explained.

The five-member panel which adjudicated this year’s award reportedly included the director-general of the Central Bank of Mauritania and the head of innovation at Ecobank. According to a report in The East African, the recognition of Yellow Card by AFIS could be a turning point for the digital assets industry not just in Africa, but globally.