By Milcah Tanimu
Yellow Card is now working to secure regulatory approval from Nigeria’s Securities and Exchange Commission (SEC). The company recently acquired a Crypto Asset Service Provider (CASP) license in South Africa.
Lasbery Oludimu, VP of Global Operations and MD at Yellow Card Nigeria, confirmed this in an interview with Nairametrics. She explained that Yellow Card has submitted its application under the SEC’s Accelerated Regulatory Incubation Programme (ARIP) and is awaiting approval in principle.
Oludimu noted that the licensing process in South Africa was detailed and involved a thorough inspection. She added that the company is ready to face similar challenges in Nigeria, relying on its operational transparency and commitment to compliance.
Nigeria’s SEC has made significant strides in crypto regulation through its ARIP program. This initiative creates a safer environment for users and ensures that crypto businesses comply with financial regulations.
With recent Series C funding, Yellow Card plans to enhance its stablecoin infrastructure and expand its product offerings. The company also entered a partnership with PayPal and Xoom to improve cross-border payments across Africa.
