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Yellow Card & Coinbase to expand access to digital assets in Africa

By Delisha Fernandes

January 12, 2024

  • Coinbase
  • Coinbase Wallet
  • Cryptocurrency

Yellow Card, Coinbase, Digital Assets, cryptocurrency, Coinbase Wallet, Payments API, KYC Process, FinTech news, FinTech AfricaYellow Card, an African-focused stablecoin exchange, has partnered with Coinbase, a cryptocurrency exchange in the United States, to expand and simplify access to USDC and digital assets in Africa.

Coinbase has integrated the new Yellow Card Widget, giving Coinbase Wallet customers access to Yellow Card’s extensive network of payment methods across 20 African countries in a partnership that will transform the accessibility and convenience of digital assets throughout Africa.

Chris Maurice, co-founder and CEO of Yellow Card, expressed excitement about the partnership, stated, “We are thrilled to partner with Coinbase to bring the transformative power of Stablecoins to more people across Africa. Together, by combining Yellow Card’s regional expertise with Coinbase’s global brand and infrastructure, we will empower the next one billion people across Africa to participate in the future of finance.”

The Yellow Card Widget enhances Yellow Card’s existing Payments API, which already helps businesses provide their African customers with local currency transaction options. With the addition of the Widget, businesses—such as Coinbase—can now offer a better experience for customers dealing with digital assets.

With the integration of the Yellow Card Widget, Coinbase Wallet customers in Africa will benefit from:

  • Convenient and Affordable Payment Methods: The integration will offer customers a range of convenient and cost-effective payment methods, including local bank transfers and mobile money, in their local currency.
  • Safe and Secure Transactions: The partnership ensures a secure environment for buying and selling virtual assets, enhancing trust and confidence among customers.
  • Enhanced Customer Experience: Yellow Card’s customers can expect an improved and streamlined experience, making digital asset transactions more user-friendly and efficient.
  • Quick and Easy KYC Process: The Know Your Customer (KYC) process will be expedited by Yellow Card’s expertise in onboarding customers across Africa, providing a swift and hassle-free onboarding experience for everyone.
  • Low Fees and Competitive Rates: Coinbase customers in Africa will enjoy the benefit of minimal transaction fees and favourable exchange rates when converting from their local currency into USDC and vice versa.

Additionally, as part of this partnership, Yellow Card customers will be able to transfer and receive USD Coin (USDC), the second-largest stablecoin by market cap, using Coinbase’s Base chain. This Layer 2 solution offers faster transaction speeds and cheaper fees compared to the ERC-20 network.

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