- Coinbase will integrate Yellow Card’s payment rails in Africa.
- The crypto exchange said that Africa is “by far” the youngest continent.
Coinbase has teamed up with Africa’s Yellow Card to launch its products in 20 African nations, with an emphasis on growing the accessibility of the USDC stablecoin.
Moreover, Coinbase will integrate Yellow Card’s payment rails in Africa as part of the agreement, according to Yellow Card CEO Chris Maurice. This would allow Yellow Card users to easily switch between fiat currency and Bitcoin and USDC on the Ethereum layer-2 rollup Base.
Strategic Collaboration
Furthermore, built to expand the user base on-chain, Base is a low-cost and secure Ethereum layer-2 solution. Base intends to gradually decentralize in the coming years; it was incubated within Coinbase.
The crypto exchange stated:
“Our new partnership […] will help usher in the future of money by giving millions of users access to USDC and fast, reliable, cheaper transactions on our decentralized, open L2 Base through both Coinbase and Yellow Card products.”
Furthermore, this will be available to customers in Africa via the Coinbase Wallet, which has a new function that allows users to send and receive funds using links on prominent social media platforms. Maurice also said that more Coinbase-supported cryptocurrencies and stablecoins would be included, in addition to USDC.
Also, many of these nations have severe inflation and rely heavily on remittances; Coinbase hopes that by partnering with Yellow Card, they can provide a more practical and affordable alternative for transacting in the area.
Coinbase said that Africa is “by far” the youngest continent and that several of these markets have populations that are younger than usual, highlighting the need to provide economic opportunities for these people.
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