Cryptocurrency News

A Successful Funding Round Brings in $15 Million for Yellow Card

As per the latest reports, Yellow Card, a major cryptocurrency exchange from Africa has made an announcement in regards to a funding round. The firm has announced that it has successfully carried out a Series A funding round that has brought in a significant amount of funds.

The exchange has announced that some of the largest venture funds from the blockchain industry had led the funding round. This is yet another major demonstration of mass growth in the cryptocurrency industry. This is the reason why the cryptocurrency industry is receiving a lot of investments from both crypto and non-crypto venture firms.

Yellow Card has revealed that from the funding round, it has successfully generated funds worth $15 million. The largest cryptocurrency exchange in Africa has announced that with the money it has raised, it will proceed with bringing in more talent.

According to the executives from the exchange, the major priority is going to be the global expansion of the exchange. In the past couple of years, the African region has emerged as one of the major hubs for the entire cryptocurrency sector.

Millions of people from Africa are adopting and investing in cryptocurrencies to profit from the lucrative nature of the cryptocurrency industry. With time, the industry is gaining a lot of pace in the African region. This is the reason why they are aiming to expand their operations throughout the continent.

Once the operations for the exchange are spread across the African content, the next goal would be global expansion. For that purpose, they have carried out the Series A funding round and have generated funds to expedite the process.

The exchange officials have confirmed that Third Price, Castle Island Ventures and Valar Ventures led the funding round for the exchange. These were the leading participants in the funding round.

Furthermore, firms such as MoonPay, Coinbase Ventures, BlockFi, Ventures, Polychain Capital, and Square Inc, also participated in the funding round.

It was back in 2018 when the exchange launched its services in Nigeria, the largest populated area in the African region. Afterward, the exchange went on to expand its services and operations throughout the continent. At present, Yellow Pay has its headquarters based in Georgia and Atlanta.

However, the exchange is focused on providing its services and running its operations in the African region. The exchange is aiming to expand its cryptocurrency trading services all across the continent and then worldwide recognition to its cryptocurrency platform.

In the African region, cryptocurrencies have emerged as one of the most adopted and profitable platforms. With the ever-growing cryptocurrency market in Africa, things are becoming favorable for Yellow Card to expand.

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