Coinbase Conquers Africa, With Yellow Card

The Coinbase exchange has announced a partnership with Yellow Card to facilitate access to crypto in Africa. Thanks to this collaboration, almost half of Africa’s population will be able to access USDC stablecoin and send it free of charge by e-mail, Whatsapp or other messaging applications.

Coinbase and Yellow Card join forces for crypto adoption in Africa

With its young and growing population, Africa is increasingly attracting the interest of global economic players, including those in the crypto industry. As part of its international expansion plan, cryptocurrency exchange Coinbase consolidates its presence on the dark continent. To this end, Coinbase signed a partnership with the crypto exchange. Present in 20 African countries, the Yellow Card affects nearly 52% of the continent’s population.

The partnership between Coinbase and Yellow Card will enable users of two companies to access USDC stablecoin easily and free of charge. Users of Coinbase Wallet will be able to send USDC free of charge by e-mail and via popular messaging applications such as WhatsApp, iMessage and Telegram. Yellow Card users, meanwhile, will be able to buy USDC on the Base blockchain, benefiting from cheaper payments and transfers.

Africa needs crypto and crypto needs Africa

By signing this partnership in the direction of Africans, Coinbase has high expectations for both Africa and the crypto ecosystem. Indeed, Coinbase believes that African economies suffer from high inflation and limited access to financial services. The USDC stablecoin could be the solution, says Coinbase.

By saving in stablecoin USDC, Africans can protect themselves against inflation in their national currencies. In addition, the USDC will enable Africans to have a financial account and send remittances at lower cost, where ordinary transfers eat up 20% of GDP in transaction costs.

Many of these countries depend on inflation and remittances. This partnership, with its focus on the USDC, will increase economic freedom in places that have lacked it.

Coinbase

Africans aren’t the only beneficiaries of the Coinbase deal. Coinbase and Yellow card. In fact, the entire crypto ecosystem also needs Africa. Indeed, Africa is predominantly inhabited by young people, unlike other continents. All studies on crypto suggest that young people are more likely to use digital assets.

So it’s true that with its financial problems, Africa needs crypto more than any other continent. However, the crypto ecosystem is more likely to develop in Africa than anywhere else in the world. Coinbase and Yellow Card have understood this and will certainly benefit from it.