Yellow Card is now officially available in South Africa. In April, the South African’s Financial Sector Conduct Authority (FSCA) approved 75 crypto asset service providers (CASPs) from a set of 374 applicants.
During the regulatory approval, the popular crypto investment app, Luno was approved. But the world largest crypto exchanging platform Binance and a prominent largest and first licensed Stablecoin on/off ramp on the African continent YellowCard wasn’t approved.
But now, YellowCard has been officially approved in South Africa, making the country one of YellowCard’s supported countries. Currently, YellowCard is now operating in 20 countries in Africa, making the platform a pan-African fintech company and largest stablecoin supplier on the continent.
According to press release, the newest regulatory license which YellowCard acquired from South Africa regulators comes as South Africa continues to relax its regulatory stance on cryptocurrency in 2024, with over 138 companies now licensed to operate within the country’s regulated crypto ecosystem.
How to Use Yellow Card in South Africa
With the newly secured Crypto Asset Service Provider (CASP) licence in South Africa, Yellow Card is now an authorized financial services provider (FSP) in the country.
That is to say, with the CASP Licence, YellowCard can now be used to buy and sell cryptocurrencies in South Africa. You can also use YellowCard South Africa to move cash across Africans borders instantly with no fees.
Speaking of YellowCard coins trading and exchanging in South Africa, you can use the platform to purchase stablecoins like USDT and PYUSD, plus other popular coins like Bitcoin (BTC) and Ethereum (ETH) at the best rates. More so, coins sold and withdrawn are alway credited in rand (ZAR) to your bank account with instant alert.
You can use Yellow Card to send money to all supported countries including Nigeria, Ghana, Benin, Senegal, Cameroon, Zambia, Botswana, Malawi and more.
However, to use the Yellow Card platform in South Africa, you need to download the app on Google Play store or Apple App Store, register an account and verify your identity.
Once you pass the verification check, you can begin to use the YellowCard App to exchange cryptos, send money to friends and families in Africa, receive money from other African countries and invest in stable coins.
