Yellow Card, an African fintech company, has joined forces with MoonPay, a global leader in the cryptocurrency ecosystem to expand cryptocurrency accessibility in Nigeria.
The partnership aims to streamline and enhance the crypto purchasing experience for Nigerians by leveraging local bank transfers.
Nigeria has emerged as a powerhouse in the African cryptocurrency landscape, with increasing numbers of individuals turning to digital assets to hedge against inflation and economic uncertainty.
The volatility in the local crypto market, marked by the recent challenges faced by various crypto companies in Nigeria, has underscored the critical need for a stable and reliable means of accessing cryptocurrencies.
“At the core of our company’s mission is the belief that everyone should have access to the power and potential of cryptocurrencies. By joining forces with MoonPay, we aim to eliminate the barriers that prevent Nigerians from participating in the crypto economy. Together, we can help make crypto trading easy, intuitive, and available to all,” said Uzoma James, West Africa Regional Manager at Yellow Card, which has a stronghold in Nigeria.
MoonPay co-founder and CEO Ivan Soto-Wright said, “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.”
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The integration between Yellow Card and MoonPay will enable Nigerians to engage in peer-to-peer crypto transactions with unprecedented ease.
Leveraging local bank transfers, users can eliminate many of the obstacles that have traditionally hindered the crypto purchasing process. This integration is set to transform the landscape of cryptocurrency accessibility in Nigeria, making it more inclusive and user-friendly.
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