Thursday, July 7, 2022
Thursday, July 7, 2022
Home Startups Nigerian crypto exchange Yellow Card launches in Ivory Coast.

Nigerian crypto exchange Yellow Card launches in Ivory Coast.

by Weddy Thuranira
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Nigerian cryptocurrency exchange Yellow Card has added Ivory Coast to its list of 16 countries where it operates as it continues to expand across Africa,

Since its debut in Nigeria in 2018, Yellow Card has made it their mission to bring financial freedom to all by making it simple for anybody, wherever in Africa, to buy cryptocurrency at the best rates using cash, mobile money, cards, and bank transfers.

Ivory Coast’s Yellow Card country manager, Sylvio Contayon, is optimistic about the journey ahead, claiming that the country is an untapped market with an increasing number of crypto enthusiasts.

Yellow Card, which was founded in 2018 and launched in Nigeria in 2019, allows anyone in Africa to buy cryptocurrencies such as Bitcoin, Ethereum, and USDT Stablecoin with cash, mobile money, a credit card, or a bank transfer. The company claims to be “building a new financial infrastructure for the African continent”.

The startup raised US$15 million in Series A funding last year to expand its hiring and expand throughout the continent, and Ivory Coast is now its 16th market.

‘What excites us is that this is something new and unexplored on the Ivorian market. We have the opportunity to be the number one leader in the market by bringing something new and innovative. There are an estimated 343,000 crypto holders in Ivory Coast and if we do things right, we could increase the stats, monopolise the market and become the leader in the country,” said Sylvio Contayon, Yellow Card country manager for Ivory Coast.

“We want to address the knowledge gap by setting up activations in malls, conducting educational webinars, speaking at universities and promoting the Yellow Card Academy – a platform that shares information about cryptocurrency, blockchain technology, economics and financial literacy.”

Yellow Card will form two strategic partnerships: one with a high-end hotel that will allow customers to pay their hotel bills in cryptocurrency, and the other with a real estate agency that will allow people to buy real estate using cryptocurrencies through the Yellow Card app.

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