Pan-African crypto exchange Yellow Card has received a Crypto Asset Service Provider (CASP) licence from the Financial Sector Conduct Authority (FSCA) in South Africa. Yellow Card was the first crypto exchange to get an operating license in Botswana.
Yellow Card launched in South Africa in 2020 and claims to have facilitated over $3 billion in transactions in the last several years. The company now operates in 20 countries across the continent and recently completed a US$33 million Series C financing.
Yellow Card joins a long list of other major exchanges that have acquired operating licenses in South Africa. Others include LUNO and VALR.
South Africa started issuing crypto asset provider licenses early this year in a move to regulate crypto in the country which has seen a surge in use over the last few years.