Ethereum

Goal

Celo

Base

USDC

Coinbase Global Inc., the American cryptocurrency exchange, has entered into a partnership with Yellow Card, a digital asset exchange operating in Africa.
<h2 id="strong-the-goal-of-the-partnership-strong">The Goal of the Partnership</h2>
Coinbase’s recent collaboration with Yellow Card marks a significant step in the cryptocurrency exchange’s mission to expand its services globally while prioritizing compliance. This partnership aims to<a href="https://thecoinrise.com/yellow-card-seeks-crypto-license-from-nigeria-sec/" rel="noopener noreferrer nofollow"> unlock new possibilities for users in 20 African countries</a>, offering them access to USDC (USD Coin) through the Coinbase Wallet app.
More than half of Africa’s population will have access to USDC purchases through the Coinbase Wallet app beginning in February thanks to this cooperation. The move is not just about extending geographical reach; it’s about enhancing accessibility in regions that face challenges such as high inflation rates and heavy reliance on remittances.
The decision to integrate USDC into the Coinbase Wallet app goes beyond traditional cryptocurrency transactions. Coinbase is leveraging popular messaging apps like WhatsApp, iMessage, and Telegram to allow users to send USDC without incurring fees.
This user-friendly approach aligns with Coinbase’s strategy to make cryptocurrency transactions more seamless and user-centric, especially in areas where traditional financial infrastructure may be lacking.
<h2 id="b-empowering-yellow-card-users-with-cost-effective-transactions-b">Empowering Yellow Card Users with Cost-Effective Transactions</h2>
Yellow Card users, as part of this partnership, gain access to purchase USDC on Base, an Ethereum layer 2 solution incubated by Coinbase. This move not only provides Yellow Card users with an additional avenue to buy and use USDC but also introduces them to a more cost-effective solution.
Base, with its Ethereum layer 2 technology, offers transactions at a lower cost, potentially addressing concerns related to high transaction fees and making cryptocurrency usage more appealing in the targeted African markets.
<h2 id="b-yellow-card-is-critical-to-coinbase-planned-financial-impact-b">Yellow Card is Critical to Coinbase Planned Financial Impact</h2>
The strategic decision to offer USDC through Base showcases Coinbase’s commitment to fostering innovation and providing practical solutions for users in regions with specific economic challenges.&nbsp;
By incorporating cost-effective alternatives, Coinbase aims to make a meaningful impact on the financial sector of these countries.
Yellow Card<a href="https://thecoinrise.com/yellow-card-concludes-15m-series-a-opens-new-doors-for-africa/" rel="noopener noreferrer nofollow"> launched its $1.5 million seed round</a> with backing from Polychain Capital, Andreessen Horowitz, and the Celo Ecosystem Fund in August 2020. September 2022 saw the completion of a $40 million Series B fundraising round headed by Polychain. That came after a $15 million Series A the previous year.
<h2 id="b-coinbase-s-go-broad-go-deep-strategy-approach-to-global-expansion-b">Coinbase’s “Go Broad, Go Deep” Strategy Approach to Global Expansion</h2>
This collaboration with Yellow Card is not an isolated move for Coinbase. It aligns seamlessly with the company’s overarching strategy, known as “Go Broad, Go Deep.” Coinbase’s emphasis on compliance and its dedication to international expansion is evident not only in its African partnership with Yellow Card but also in its recent endeavors in the European market.
Coinbase’s planned acquisition of a MiFID-licensed entity is a strategic move signaling an<a href="https://thecoinrise.com/coinbase-plans-to-acquire-a-mifid-licensed-entity-in-the-eu/" rel="noopener noreferrer nofollow"> expansion of its derivatives offerings in the European Union.</a> This follows the introduction of spot trading for non-U.S. institutions and the expansion of international derivatives trading services for non-U.S. institutional clients in December last year.
Coinbase’s collaboration with Yellow Card is not just a partnership; it’s a strategic maneuver that reflects the company’s commitment to<a href="https://thecoinrise.com/coinbase-shares-soars-amidst-rivals-challenges/" rel="noopener noreferrer nofollow"> positioning itself as a key player</a> in the evolving narrative of digital finance.
The post <a href="https://thecoinrise.com/coinbase-partners-with-yellow-card-in-global-expansion-move/" rel="noopener noreferrer nofollow">Coinbase Partners with Yellow Card in Global Expansion Move</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Coinbase Partners with Yellow Card in Global Expansion Move

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