Yellow Card has obtained the CASP license issued by the Financial Sector Conduct Authority (FSCA) of South Africa.

According to Financefeeds, the South African cryptocurrency exchange Yellow Card has obtained a Crypto Asset Service Provider (CASP) license issued by the Financial Sector Conduct Authority (FSCA) of South Africa. Yellow Card recently completed a $33 million Series C funding round, led by Blockchain Capital. Yellow Card stated that it will use the license and funding to accelerate the expansion of its stablecoin payment network, optimize its B2B API and Widget services, and upgrade its infrastructure. Currently, the adoption rate of stablecoins in Africa is rapidly increasing, with the Sub-Saharan region leading the world with a 9.2% adoption rate.