Yellow Card aims to secure CASP licence in Nigeria, expanding its crypto footprint
Yellow Card, one of Africa’s top cryptocurrency exchanges, is working towards securing regulatory approval from Nigeria’s Securities and Exchange Commission (SEC). This move comes right after the company recently obtained a Crypto Asset Service Provider (CASP) licence in South Africa last month.
Nigeria has become a major hub for cryptocurrency use in Africa, with millions of Nigerians relying on digital assets for everything from remittances to savings and investments. However, as the popularity of cryptocurrencies continues to grow, there’s a need for stronger regulation, and that’s where the SEC comes in. Its job is to ensure that crypto platforms like Yellow Card follow strict rules to prioritize security and protect investors.
For Yellow Card, securing approval from Nigeria’s SEC would be a game-changer. It would allow the company to expand its services, introduce new products, and further cement its reputation as a trusted platform in Nigeria’s rapidly growing crypto market.
Yellow Card has always prioritized regulatory compliance, working with regulators across Africa. It received approval in Botswana in 2022 and added South Africa to its roster in 2024. Now, Nigeria is its next big goal.
The Nigerian SEC has also been active in regulating the crypto space. In 2022, it introduced guidelines for digital asset platforms and made some adjustments to the rules this year, including proposed fee increases. If Yellow Card secures this licence, it would be a win not only for the company but also for Nigeria’s thriving crypto community.
