WEB3

Moonpay Joins Forces with Yellow Card to Drive Crypto Adoption in Nigeria

by BSC News

September 12, 2023

chain

MoonPay and Yellow Card aims to facilitate smooth cryptocurrency transactions through local bank transfers.

Summary 

  • MoonPay has partnered with Yellow Card, Africa's largest crypto exchange, to make cryptocurrency more accessible in Nigeria through local bank transfers.
  • The partnership was officially announced on September 12 and aims to increase cryptocurrency availability in Nigeria.
  • Both MoonPay and Yellow Card are focused on promoting financial inclusion in Nigeria. 

MoonPay has entered into a strategic partnership with Yellow Card, a leading African Fintech firm, in a bid to make cryptocurrency more accessible to Nigerians. 

MoonPay officially announced the collaboration on September 12 through Twitter. The goal of this alliance is to increase the availability of cryptocurrency in Nigeria.

Ivan Soto-Wright, the Co-Founder and CEO of MoonPay, emphasized the significance of the partnership, as quoted in Africa Newsroom. He stated that supporting local bank transfers would unlock vast opportunities for crypto users in Nigeria. 

“Supporting local bank transfers unlocks immense opportunities for crypto users, and we’re eager to introduce this experience to Yellow Card’s fast-growing ecosystem. Offering a simple, inclusive transaction method for users across Africa is an exciting step forward in our vision to onboard the world to Web3,” he said. 

By teaming up, MoonPay and Yellow Card aim to facilitate smooth cryptocurrency transactions through local bank transfers. This initiative is designed to make crypto trading more user-friendly and accessible for Nigerians. 

Both companies share a common vision of promoting financial inclusion and innovation. The partnership is considered a monumental step toward achieving these objectives in the Nigerian crypto market.

Yellow Card is the largest crypto exchange in Africa, as seen in MoonPay’s tweet. The company operates in 17 African countries and has raised over $50 million in capital, marking the highest amount raised by any cryptocurrency firm on the continent.

This collaboration promises to open new doors for crypto adoption and financial inclusivity in Nigeria, aligning well with the visions of MoonPay and Yellow Card.

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