Yellow Card secures Crypto Asset Service Provider License in South Africa

Yellow Card, Africa’s leading stablecoin-based infrastructure provider, has received a Crypto Asset Service Provider (CASP) license from South Africa’s Financial Sector Conduct Authority (FSCA).

CEO Chris Maurice highlighted that the license reflects Yellow Card’s commitment to regulatory compliance and customer security in South Africa and across Africa.

Stablecoin adoption in sub-Saharan Africa is growing rapidly, with South Africa seeing a 50% month-over-month increase since October 2023.

Yellow Card, which launched in South Africa in 2020, has facilitated over $3 billion in transactions and operates in 20 countries.

With recent Series C funding of $33 million, Yellow Card plans to enhance its infrastructure and expand its B2B offerings, making digital assets more accessible for businesses across Africa.