Yellow Card optimistic on Botswana crypto growth
Fintech firm Yellow Card is promoting innovation to attract more consumers into Botswana’s crypto currency space.
Botswana is one of Yellow Card’s best performers across the company’s footprint of 16 African countries.
“Botswana punches above its weight,” said Chris Maurice, CEO and co-founder of Yellow Card.
Maurice said the company is working with Non-Bank Financial Institutions Regulatory Authority and the reserve bank- Bank of Botswana on innovations to create an enabling environment that allows more players into the crypto currency space.
He said the company wants to tap Botswana's status of being a country with a small population, best ICT infrastructure and wealthy individuals in the capital Gaborone to spur its presence in the country.
Yellow Card was the first crypto currency company to secure a Virtual Asset Provider licence in Botswana last year.
In addition, as part of building blocks to creating a solid network, Yellow Card launched payments API at the height of COVID-19 pandemic to enable businesses to on-and-off-ramp customers through Yellow Card's crypto rails.
Maurice said payments API is a game-changer for businesses looking to expand across Africa.
“With one API, you can outsource treasury management, collections, and disbursements across 16 African nations,” said Maurice.
He said Yellow Card payments API has a positive impact on businesses looking to expand reach into various African markets.
“Yellow Card allows businesses instant access to its collection and disbursement rails in 16 African countries as well as the ability to offer their customers local payment methods through mobile money and local bank transfer.”
Payments API enables businesses to collect and disburse local fiat currency through mobile money and bank transfer while Yellow Card handles the treasury management and conversion of local fiat to/from Stable coins such as USDT and USDC.
“The automated conversion to Stable coins safeguards your business from the volatility of African currencies. This product is perfect for crypto companies and other global companies looking to break into Africa, remittance companies looking to benefit from crypto rails, and fintechs that need help with treasury management,” said Maurice.