In a significant move to enhance digital asset accessibility across the African continent, Yellow Card, a prominent African-focused stablecoin exchange, has joined forces with Coinbase, a leading cryptocurrency exchange based in the United States. The collaboration aims to streamline and broaden access to USDC (USD Coin) and other digital assets in Africa.
Coinbase has seamlessly integrated the Yellow Card Widget into its platform, extending accessibility to Yellow Card’s extensive network of payment methods spanning 20 African countries. This strategic partnership is poised to revolutionize the convenience and availability of digital assets throughout the continent.
Chris Maurice, Co-founder and CEO of Yellow Card, expressed enthusiasm about the collaboration, stating, “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 complements Yellow Card’s existing Payments API, which already facilitates businesses in offering local currency transaction options to their African customers. The Widget, now integrated with platforms like Coinbase, enhances the overall customer experience in dealing with digital assets.
Key benefits for Coinbase Wallet customers in Africa
Key benefits for Coinbase Wallet customers in Africa, resulting from the integration of the Yellow Card Widget, include:
Convenient and Affordable Payment Methods: Users gain access to a variety of convenient and cost-effective payment methods, including local bank transfers and mobile money, conducted in their local currency.
Safe and Secure Transactions: The collaboration ensures a secure environment for buying and selling virtual assets, fostering trust and confidence among users.
Enhanced Customer Experience: Yellow Card’s customers can anticipate an improved and streamlined experience, making digital asset transactions more user-friendly and efficient.
Quick and Easy KYC Process: Yellow Card’s expertise in onboarding customers across Africa expedites the Know Your Customer (KYC) process, providing a swift and hassle-free onboarding experience for all users.
Low Fees and Competitive Rates: Coinbase customers in Africa will benefit from minimal transaction fees and favorable exchange rates when converting between their local currency and USDC.
As part of this collaboration, Yellow Card customers will have the added advantage of transferring and receiving USD Coin (USDC), the second-largest stablecoin by market cap, utilizing Coinbase’s Base chain. This Layer 2 solution offers faster transaction speeds and more cost-effective fees compared to the ERC-20 network.
