The 2023 Africa Financial Industry Summit gave the “AFIS Disrupter of the Year Award” to Yellow Card, Africa’s main legal stablecoin on/off ramp.
In Lome, Togo, Yellow Card was praised for its creativity and persistence in the African banking industry.
Disrupter of the Year honors companies that have overcome adversity and disrupted the market. Yellowcard beat Moniepoint, Sparkle, Ejara, and Bamboo. Yellow Card co-founder and CEO Chris Maurice expressed his thanks for the honor.
After getting the award, Maurice said, “This award shows that our team can solve important, real-world problems for companies all over the continent.” When bankers vote on an award, it’s a big deal for a stablecoin company to win.
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Chris was awarded and spoke at the event, attended by over 1,000 officials, bankers, and fintech innovators.
Mamadou Toure, the founder and CEO of Ubuntu Group, and the CEO had an exciting conversation about the future of cryptocurrency in Africa. The interview went into more detail about Yellow Card’s goal to challenge traditional banking by making foreign money transfers faster and cheaper and by being a place where people can trade Stablecoins, Bitcoin, and other cryptocurrencies.
Read also: Yellow Card, Web3Ladies’ offer blockchain training to Nigerian women
Yellow Card info
Chris Maurice and Justin Poiroux started Yellow Card in 2016. Since its launch in Nigeria in 2019, the company has grown to serve 20 countries. With more than 200 workers working in 18 different countries and more than 1.7 million registered customers, the company is still at the forefront of changing the way money works in Africa by making access to stablecoins and cryptocurrencies safe, easy, and cheap.
The company’s primary goal in Africa is to help more people access cryptocurrency financial services. All of its work in the region has been focused on this goal. In an interview with the media, the CEO went into more detail about the goal, saying that the company wants all Africans, no matter what currency they use, to be able to receive financial services. He told them how much he believed crypto had the power to change the world and the way people around the world handle their money.
There is a lot of growth in the currencies. And banking is old-fashioned in some places. Right now, South Africa doesn’t even have power. You’ll get tired of dealing with all the infrastructure problems that come with living on the continent and other problems like insufficient money.
Tether, Yellow Card promote Stablecoin adoption, education for African youths
In Africa, Yellow Card has led to crypto acceptance. Cash or crypto donations are given to individuals and groups. The company joined the Web3 Ladies’ mentorship program in October. Under the agreement, the company gave 500 Nigerian women N3 million to learn tech and blockchain skills.
A three-month boot camp, the mentorship program develops blockchain designers, engineers, and managers and gives them the tools and the resources they need to succeed.
The “A Whole in Your Wallet” global promotion occurred in 2023. The February–April 2023 campaign sought to ease Yellow Card customers’ transition after a rollercoaster in 2022 and a lengthy bear market in 2023. The lucky winner, young Nigerian Julian Oti, received 1 Bitcoin worth almost $30,000.