The establishment of this framework allows the South African government to tax crypto returns and address risks associated with money laundering and terrorist financing.

Yellow Card's partnership with Coinbase, initiated in January 2024, enables Coinbase wallet users in 20 African countries to transact using local currencies through bank transfers and mobile payments.

In addition to Coinbase, Yellow Card collaborated with Block in 2023 to enhance cross-border payment capabilities in 16 African nations, streamlining international money transfer processes.

This regulatory framework in South Africa has been developed to oversee various aspects of the crypto industry, including advisory services, exchanges, and payment gateways, in response to the sector's rapid growth.

Yellow Card, a pan-African stablecoin infrastructure company, recently raised $33 million in a Series C financing round, which will bolster its operations and regulatory compliance efforts.

The company's focus on regulatory compliance and strategic partnerships is driving cryptocurrency adoption and financial inclusion throughout the continent.

The company has secured a Crypto Asset Service Provider (CASP) license in South Africa, a significant milestone that aligns with its expansion strategy across the continent.

With its new license and funding, Yellow Card aims to enhance its B2B offerings, improve its stablecoin infrastructure, and develop innovative solutions to support businesses across Africa.

Currently, there are approximately 5.8 million crypto asset users in South Africa, with stablecoins experiencing a remarkable 50% month-over-month growth since October 2023.

Sub-Saharan Africa leads the world in stablecoin adoption, boasting a 9.2% adoption rate, highlighting the region's increasing engagement with digital currencies.

Overall, Yellow Card's growth reflects the rising interest in digital currencies in Africa, providing essential infrastructure for the continent's cryptocurrency landscape.

Furthermore, Yellow Card is in discussions with Nigeria’s Securities and Exchange Commission for a crypto license under the Accelerated Regulatory Incubation Programme, indicating its ambition to expand further in the region.