In a significant move towards expanding cryptocurrency accessibility in Nigeria, Yellow Card (https://YellowCard.io/), a pioneering African fintech company, has joined forces with MoonPay, a global leader in the cryptocurrency ecosystem. This strategic partnership aims to streamline and enhance the crypto purchasing experience for Nigerians by leveraging local bank transfers.
Nigeria has emerged as a powerhouse in the African cryptocurrency landscape, with increasing numbers of individuals turning to digital assets to hedge against inflation and economic uncertainty. The volatility in the local crypto market, marked by the recent challenges faced by various crypto companies in Nigeria, has underscored the critical need for a stable and reliable means of accessing cryptocurrencies.
Yellow Card, the largest and fastest growing cryptocurrency company on the continent, boasts a proven track record across 17 markets, with a particular stronghold in Nigeria. The collaboration with MoonPay signifies a turning point in the accessibility and usability of cryptocurrencies within the region.
“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,” said Uzoma James, West Africa Regional Manager at Yellow Card.
MoonPay has established itself as a frontrunner in the cryptocurrency industry, offering a comprehensive suite of solutions that simplify the onboarding process for newcomers to the crypto world. With this collaboration, MoonPay is poised to extend its reach into the Nigerian market, catering to the specific needs and challenges faced by the local population.
“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,” said Ivan Soto-Wright, Co-Founder and CEO at MoonPay.
The integration between Yellow Card and MoonPay will enable Nigerians to engage in peer-to-peer crypto transactions with unprecedented ease. Leveraging local bank transfers, users can eliminate many of the obstacles that have traditionally hindered the crypto purchasing process. This integration is set to transform the landscape of cryptocurrency accessibility in Nigeria, making it more inclusive and user-friendly.
Both Yellow Card and MoonPay are committed to fostering financial inclusion and innovation, and this partnership marks a significant step towards realising these goals in the Nigerian market. As the country continues to lead the crypto movement in Africa, collaborations like these are pivotal in ensuring that the benefits of digital assets are accessible to all segments of the population.
About Yellow Card:
Yellow Card (https://YellowCard.io/) is the largest cryptocurrency exchange on the African continent. Operating across 17 countries, Yellow Card is a financial services company that offers a crypto exchange, easy cross-border payments powered by crypto, and an API suite for companies to on-and-off-ramp anyone on the continent and abroad.
In 2022, Yellow Card announced its Series B fundraise of $40 million, bringing total funds raised to over $50 million — the most capital raised by any African cryptocurrency company.
About MoonPay:
MoonPay is the world’s leading Web3 infrastructure company. It provides end-to-end solutions for payments, enterprise-scale digital asset and smart contracts minting, and world-class design to power Web3 strategies and ideas for the world’s most iconic brands. MoonPay is active in more than 160 countries and is trusted by 500+ partners, including leading wallets, commercial brands, and applications. For more information, visit: https://www.MoonPay.com/