Coinbase-Backed Yellow Card Seeks Nigerian License After South African Regulatory Win

Yellow Card, an African stablecoin platform, is taking steps to secure a license from Nigeria’s Securities and Exchange Commission (SEC) after obtaining a Crypto Asset Service Provider (CASP) license in South Africa. The CASP license has enabled Yellow Card to operate within South Africa’s regulatory framework, marking a significant milestone in its expansion across Africa. The company claims to have facilitated over $3 billion in transactions across 20 African countries where it operates. The Nigeria SEC has already issued licenses to two locally founded digital asset exchanges, Quidax and Busha. By seeking a license in Nigeria, Yellow Card aims to strengthen its presence in the country and provide users with a secure and regulated platform for cryptocurrency transactions.