Crypto VC Blockchain Capital led a $33 million Series C funding round at African stablecoin exchange Yellow Card.
Yellow Card, a Nigeria-based Coinbase portfolio company, has now “completed its equity financing” and has raised a total of $85 million, according to a statement. Earlier this year, Coinbase partnered with Yellow Card to expand accessibility to its products in 20 countries on the African continent.
“This newly raised capital will be used to fund growth and expansion, particularly by enhancing Yellow Card’s API and widget products, which are the gateway for international companies (including Coinbase and Block) to enter African markets,” Yellow Card said in a statement. “It is,” he said.
Other participants in Series C include Polychain Capital, Third Prime Ventures, Castle Island Ventures, Block, Inc., Galaxy Ventures, Blockchain Coinvestors, Hutt Capital, and Winklevoss Capital.
“This fundraising not only demonstrates our resilience, but also highlights the critical role digital assets play for businesses across Africa,” Chris Maurice, co-founder and CEO of Yellow Card, said in a statement.
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RT Watson is a senior reporter at The Block, covering a variety of topics including US-based companies, blockchain games, NFTs, and more. Previously, he covered entertainment for The Wall Street Journal and covered Disney, Netflix, and Warner Bros. and the creator economy, with a primary focus on technological innovation across media. Previously, he covered corporate, economic and political news in Brazil at Bloomberg. RT has interviewed CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. He holds a Master’s degree in Digital Sociology.