- The partnership will simplify and elevate the crypto purchasing experience for Nigerians by harnessing the power of local bank transfers.
- Yellow Card’s collaboration with MoonPay will enhance the accessibility and utility of cryptocurrencies in the region.
- The integration will empower Nigerians to engage in peer-to-peer crypto transactions with ease.
In a move aimed at enhancing cryptocurrency accessibility in Nigeria, Yellow Card, a pioneering African fintech company, has joined forces with MoonPay, a global leader in the cryptocurrency ecosystem.
Their partnership is set to simplify and elevate the crypto purchasing experience for Nigerians by harnessing the power of local bank transfers.
The Nigerian Crypto landscape
Nigeria has emerged as a formidable force in the African cryptocurrency landscape. More and more individuals are turning to digital assets as a means of safeguarding their wealth against inflation and economic uncertainties. Estimates show that over 22 million people or 10.3 per cent of Nigerians currently own cryptocurrency.
However, the local crypto market’s volatility, coupled with recent challenges faced by various crypto companies in Nigeria, has underscored the pressing need for a stable and dependable means of accessing cryptocurrencies.
Yellow Card, known as the largest and fastest-growing cryptocurrency company in Africa, boasts an impressive track record across 17 markets, with a strong foothold in Nigeria.
The collaboration with MoonPay represents a pivotal moment in enhancing the accessibility and utility of cryptocurrencies in the region.
Uzoma James, West Africa Regional Manager at Yellow Card, stated, “At the core of our company’s mission is the belief that everyone should have access to the power and potential of cryptocurrencies. By joining forces with MoonPay, we aim to eliminate the barriers that prevent Nigerians from participating in the crypto economy. Together, we can help make crypto trading easy, intuitive, and available to all.”
Ivan Soto-Wright, Co-Founder and CEO at MoonPay, noted that, “Supporting local bank transfers unlocks immense opportunities for crypto users, and we’re eager to introduce this experience to Yellow Card’s fast-growing ecosystem. Offering a simple, inclusive transaction method for users across Africa is an exciting step forward in our vision to onboard the world to Web3.”
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Peer-to-peer transactions
The integration between Yellow Card and MoonPay will empower Nigerians to engage in peer-to-peer crypto transactions with unparalleled ease.
Leveraging local bank transfers will allow users to overcome many traditional obstacles associated with the crypto purchasing process.
This integration is poised to revolutionize the landscape of cryptocurrency accessibility in Nigeria, making it more inclusive and user-friendly.
Both Yellow Card and MoonPay share a commitment to fostering financial inclusion and innovation. This partnership represents a significant stride toward realizing these goals in the Nigerian market.
As Nigeria continues to lead the crypto movement in Africa, collaborations like this one are instrumental in ensuring that the advantages of digital assets are accessible to every segment of the population.
The partnership between Yellow Card and MoonPay is set to transform the way Nigerians access and use cryptocurrencies, opening up new possibilities for financial inclusion and innovation in the country. This collaboration highlights the potential of cryptocurrency to drive positive change in emerging markets like Nigeria.
Yellow Card, with a presence spanning 17 countries, stands as a trailblazing financial services company in Africa. Its diverse offerings include a user-friendly crypto exchange, seamless cross-border payment solutions powered by cryptocurrencies, and a versatile API suite.
These services are designed to facilitate the on-and-off-ramping of individuals and businesses across the African continent and beyond.
In a testament to its rapid growth and promising potential, Yellow Card made headlines in 2022 with a remarkable Series B fundraise, securing an impressive $40 million in funding.
Yellow Card capital raises $50 million
This funding catapulted the company’s total funds raised to over $50 million, establishing Yellow Card as the leading African cryptocurrency company in terms of capital raised.
With a commitment to providing end-to-end solutions, MoonPay enables seamless payments, facilitates the creation of enterprise-scale digital assets and smart contracts, and offers world-class design expertise to empower Web3 strategies and concepts for some of the world’s most renowned brands.
MoonPay enjoys an extensive presence spanning over 160 countries, and has earned the trust of a vast network of over 500 partners, including wallet providers, commercial brands, and innovative applications.
