Yellow Card Resumes Naira Deposits and Withdrawals in Nigeria

Globally, the year 2021 was a watershed moment for cryptocurrencies. While some stayed safe, Yellow Card Financial, Africa’s premier crypto exchange, reached key milestones such as establishing the YC Academy, expanding into new African areas, and raising a $15 million Series A round. Yellow Card has announced its relaunch into Nigeria to kick off the new year. Nigeria was the first African country to establish Yellow Card in 2018, therefore this revival is noteworthy. Since then, the company has expanded to 14 countries, making substantial progress toward making cryptocurrencies like Bitcoin, Ethereum, and USDT Stablecoin accessible to anyone anywhere on the continent. Yellow Card Director of Operations Oparinde Babatunde believes that this is a watershed moment for the organization. “Nigeria has always been our largest market, and us coming back to reclaim our market share is a big deal for me. There’s so much that existing and new customers can expect: our app looks different and is a whole new experience for users. We also have a strong focus on usability, trust, and safety, having implemented Smile Identity to ensure the tier-I traders are only able to submit documents once and they are scanned with an international db,” he commented. When the cryptocurrency business came under governmental investigation over worries about protecting user interests, Yellow Card withdrew from Nigeria for the first time in February 2022. “T...