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NextFrontier Africa is a media platform spotlighting Africa’s emerging opportunities in technology, tourism, aviation, agriculture, health, logistics, real estate, trade, education, and e-commerce.

January 04.2025

2 Minutes Read

Yellow Card Raises $33M: Pivots to B2B Crypto Solutions for Businesses

Hands using smartphone with Yellow Card app, cryptocurrency.

Yellow Card's $33M Milestone to Revolutionize African Enterprise Crypto

Amidst a challenging landscape for startups in Africa, the cryptocurrency platform Yellow Card is banking on a new future with a $33 million investment spearheaded by Blockchain Capital. This marks a significant phase for the U.S.-founded startup, initially launched in Nigeria and now distinguished as Africa’s most-funded cryptocurrency exchange.

The Major Turn: From Retail to B2B

Initially catering directly to the retail market, Yellow Card, since its inception in 2019, has facilitated access to cryptocurrencies and stablecoins in 20 African nations using local currencies. However, a watershed moment emerged as the company pivoted towards business-to-business engagements. Chris Maurice, co-founder and CEO, notes the shift was necessitated by the realization that businesses derived the most substantial benefits from the technology.

The retail focus, though groundbreaking, imposed significant costs, as screening and managing numerous small transactions proved unsustainable. In contrast, businesses handled larger volumes, making it economically viable and enabling Yellow Card to align its operations with business needs.

Implications of the B2B Shift

With this investment, Yellow Card is redefining its strategy, not in detachment from its mission but refining its execution. Focusing on 30,000 businesses across Africa and beyond, the platform has shifted its position from a cryptocurrency exchange to a licensed stablecoin on/off ramp for treasury management and payments.

While it may appear that Yellow Card has deviated from its goal to democratize crypto, the company argues that this transition represents a strategic reorientation rather than a fundamental departure.

Future Predictions and Trends

This pivot could predict broader trends in the African crypto landscape, potentially leading to a burgeoning market space for enterprise-focused blockchain solutions. As businesses in Africa begin to engage more deeply with digital assets, Yellow Card could serve as a pioneer, setting a precedent for other startups to follow. Increased adoption among enterprises might pave the way for crypto to gradually trickle down to retail users in new, more sustainable business models.

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Yellow Card Raises $33M: Pivots to B2B Crypto Solutions for Businesses

Yellow Card's $33M Milestone to Revolutionize African Enterprise Crypto

The Major Turn: From Retail to B2B

Implications of the B2B Shift

Future Predictions and Trends

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