Nigerian crypto exchange Yellow Card launches in Ivory Coast

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Nigerian cryptocurrency exchange Yellow Card has added Ivory Coast to the list of 16 countries in which it operates as it continues to expand across the continent.

Formed in 2018 and launched in Nigeria in 2019, Yellow Card makes it easy for anyone, anywhere in Africa, to buy cryptocurrencies like Bitcoin, Ethereum and USDT Stablecoin using cash, mobile money, card, or bank transfer.  The company claims to be “building a new financial infrastructure for the African continent”.

Disrupt Africa reported last year the startup had raised US$15 million in Series A funding to ramp up hiring and continue its expansion across the continent, and it has now made Ivory Coast its 16th market.

‘What excites us is that this is something new and unexplored on the Ivorian market. We have the opportunity to be the number one leader in the market by bringing something new and innovative. There are an estimated 343,000 crypto holders in Ivory Coast and if we do things right, we could increase the stats, monopolise the market and become the leader in the country,” said Sylvio Contayon, Yellow Card country manager for Ivory Coast.

“We want to address the knowledge gap by setting up activations in malls, conducting educational webinars, speaking at universities and promoting the Yellow Card Academy – a platform that shares information about cryptocurrency, blockchain technology, economics and financial literacy.”

Yellow Card will be entering into two strategic partnerships – one with a premium hotel that will allow customers to pay their hotel bills with cryptocurrency, and the other is with an estate agency that will provide people with the opportunity to buy real estate with cryptocurrencies via the Yellow Card app.