Provider Insights

Disclaimer:

Yellow Pay, the international money transfer service of Yellow Card App, utilizes Yellow Card's cryptocurrency exchange platform to conduct customer transactions in USDT (Tether). It is important to note that Yellow Pay is not a traditional money remittance or foreign currency exchange service. Instead, they provide on/off ramp services. On/off ramp services refer to the process of converting traditional fiat currencies into digital currencies (on-ramping) and vice versa (off-ramping), facilitating entry into and exit from the cryptocurrency market.

Geographical Focus:

Yellow Card enables local payouts in 20 countries, including Kenya, Ghana, Nigeria, Cameroon, Mali and South Africa. 

Licenses:

Yellow Card has obtained a Virtual Asset Service Provider license from the Non-Bank Financial Institutions Regulatory Authority in Botswana. The company also holds a general financial services license from the Commission de Surveillance du Marché Financier de l’Afrique Centrale. In addition, Yellow Card participates in regulatory sandboxes in Uganda and Zambia. The company's operations are conducted in compliance with local and international financial regulations, including anti-money laundering, counter-terrorism financing, sanctions compliance, and 'know your customer' policies, which are in line with the Financial Action Task Force's Travel Rule. Yellow Card is registered with the United States Department of the Treasury’s Financial Crimes Enforcement Network and operates in accordance with the United States Foreign Corrupt Practices Act and the United States Bank Secrecy Act.

Last Fundraising Round:

2022, $40 Million, Series B. A total of $57 Million raised so far. 

Investors:

Notable investors include Polychain Capital, Valar Ventures, Third Prime Ventures, Sozo Ventures, Castle Island Ventures, Fabric Ventures, and DG Daiwa Ventures, among others.