Africa-based crypto exchange Yellow Card has reportedly managed to obtain $15 million via a Serie A fundraising round, led by major names in the blockchain venture space. 

Specifically, the Series A financing round – which was regarded as a fundraising with the most major scale by any crypto exchange in the region, further highlighted the growth potential of local virtual assets – will reportedly support Yellow Card financially in widening the scope of its African operations, as well as recruit fresh human resources. 

The Series A was reportedly carried out approximately 12 months following Yellow Card’s initially successful funding round, securing $1.5 million from a variety of investors. 

The investment round was led by Valar Ventures, Third Price and Castle Island Ventures, and witnessed different entities across sectors joining, nominally Square, Inc., Blockchain.com Ventures, Coinbase Ventures, Polychain Capital, BlockFi, MoonPay and others.

Yellow Pay was reportedly established in 2018 in Nigeria, prior to widening the scope of its business throughout the continent. Its headquarters are listed in Atlanta and Georgia at the moment, regardless of the firm’s primary concentration is on forming a pan-Africa cryptocurrency platform.

Africa reportedly concretes its standing as a significant source of growth for the crypto sphere, with locals searching for measures to fight against inflation, stringent foreign exchange policies and capital controls. 

Peer-to-peer trading platforms like Paxful recorded a major surge in development in Nigeria, following the central bank’s decision to block remittances in the local naira currency.