Yellow Card, an indigenous crypto trading platform has announced that it has He received Botswana’s Virtual Asset Service Provider (VASP) license, capitalizing on the country’s positive disposition to the growing cryptocurrency industry.

Yellow Card said that the VASP License was granted by the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) late last month, and that the features verified to grant it the license will become the standard for other aspiring crypto service providers who seek to enter Africa. market.

Speaking of the newly acquired license, Yellow Card CEO Chris Maurice said the move will have a positive impact on all stakeholders, including its customers, investors and staff at large.

“This opens up further channels for expansion with regards to payment partners, banking and expanding our customer base in Africa. This will further demonstrate to regulators in other markets that we are not just any other cryptocurrency company: we are pioneers, pushing boundaries and setting the standard. All the more reason for them to work together with us as well,” he added.

Yellow Card may be indigenous to Africa, but it is aggressively exploring avenues to obtain licenses and approvals from all the regions in which it operates. While strictly adhering to all existing global anti-money laundering regulations (AML), as well as those of the Financial Crimes Enforcement Network (FinCEN).

With the new license, Yellow Card hopes to be able to better serve the needs of Botswana, many of whom the company described as high-risk investors. Crypto is already gaining traction in the country, and with the validity Yellow Card has received from NBFIRA, it can help investors meet their demands in a responsible and compliant manner.

Yellow Card has been making headlines lately and according to a report by Blockchain.News last month, the trading platform insured $40 million in a Series B funding round led by Polychain Capital.

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