Popular African-based crypto startup Yellow Card has obtained Crypto Asset Service Provider (CASP) licensing from South Africa’s regulator, the Financial Sector Conduct Authority (FSCA).

As announced by Yellow Card in a celebratory post on X, “Yellow Card is now officially licensed as a Crypto Asset Service Provider (CASP) in South Africa! This enhances the accessibility and security of digital assets in Africa.”

Speaking on the milestone achievement in a release, Chris Maurice, Co-founder and CEO at Yellow Card said, “The CASP license underscores Yellow Card’s commitment to its customers in South Africa and regulatory compliance across the continent. This achievement reflects our dedication to providing secure, compliant and transformative solutions for our customers both in South Africa and across Africa.”

Yellow Card New CASP License Implications

In the release, the crypto firm’s CEO outlined some data showcasing the surge in crypto adoption in Africa. Consequently, Chris Maurice also outlined the growing need for services offered by Yellow Card and its competitors in the continent.

As highlighted in our previous article, the platform recently raised $33 million in funding to expand its crypto token offerings for Africans. With its latest achievement (the new license in South Africa), Yellow Card further increases its dominance in the African crypto space.

Notably, the FCSA licensing the crypto firm denotes compliance with local regulatory guidelines which is important for seamless service delivery to customers. As highlighted by the crypto firm, “These efforts will empower businesses with seamless solutions for liquidity management and their general operations.”