Yellow Card, a leading crypto exchange based in Africa, has successfully raised $33 million in a Series C funding round, led by Blockchain Capital. Since its inception in Nigeria in 2019, the platform has shifted from focusing on retail customers to primarily servicing businesses. This pivot aims to increase transaction volumes and improve sustainability by targeting larger volumes that businesses generate, as retail users were becoming cost-prohibitive. Currently, Yellow Card supports around 30,000 businesses, facilitating payments and treasury management primarily through stablecoins, especially valuable in Africa's volatile economic landscape. The platform has seen its transaction volumes surge significantly, driven by the utility of stablecoins which help hedge against inflation. Yellow Card plans to use the new funding to develop products, strengthen teams, and enhance regulatory engagement across Africa, where the crypto landscape is evolving positively compared to other regions.

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