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Home»ADOPTION NEWS»Blockchain Capital Leads $33M Series C on African Stablecoin Exchange Yellow Card
ADOPTION NEWS

Blockchain Capital Leads $33M Series C on African Stablecoin Exchange Yellow Card

By Crypto FlexsOctober 17, 20242 Mins Read
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Blockchain Capital Leads M Series C on African Stablecoin Exchange Yellow Card
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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.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

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.

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