The American cryptocurrency exchange Coinbase has announced an expansion of its services in Africa through a partnership with the leading stablecoin exchange Yellow Card, which dominates the region.
As part of this partnership, Coinbase plans to provide access to the USDC stablecoin, based on their own blockchain platform Base, to millions of users. This will allow users to make fast and secure payments and transfers. Initially, these services will be available in 20 African countries, with plans to expand the geographical coverage.
Customers of Coinbase Wallet and users of Yellow Card services will be able to access the USDC stablecoin. Coinbase Wallet users will be able to purchase USDC directly from February of the current year. It is important to note that the exchange is waiving transaction fees for transfers in USDC when using a special link. This will enable free fund transfers through various messengers such as Telegram and WhatsApp.
The development of the cryptocurrency industry in Africa promises significant benefits, given the abundance of young population and lack of access to traditional financial services in the region. It is important to note that Coinbase is actively expanding its presence in various countries around the world. For example, they obtained a license to operate in France in December.
