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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Coinbase Expands To Africa, This Partnership Will Make It Happen

Rubmar Garcia
Rubmar Garcia
1 year ago
3 mins read
Coinbase COIN COINUSD

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On January 11, crypto exchange Coinbase unveiled its partnership with Yellow Card, the largest and first licensed Stablecoin on/off ramp on the African continent, to expand the access of their products to emerging economies across the African continent.

Expansion To Emerging Economies

Coinbase will expand access to its products through this new partnership with Yellow Card, starting with 20 African countries. They will provide millions of African users access to USD Coin (USDC) on the Coinbase Wallet and the Yellow Card app.

Both partners expect to “increase economic freedom” in many of these countries, whose economies have suffered from high inflation and remittance dependency and the lack of a modern financial system vastly sought by the younger generations. As they state in their press release:

Young people are more likely to recognize the benefits of crypto: more than seven in 10 crypto owners globally (72%) are under age 34.

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Their Plan To Make The Global Financial System “More Accesible”

To achieve opening access to a more modern and global financial system, they will facilitate access to USDC on Base for cheaper fees and faster transactions than traditional transfers starting in February 2024.

In the Coinbase Wallet, users will be able to purchase USDC directly from their Wallet app, as well as sending USDC without any fee to messaging and social media apps, as they noted:

Coinbase Wallet users will be able to easily send USDC without fees on any platform where they can share a link — including messaging apps like WhatsApp, iMessage and Telegram, and through popular social media apps and email.

Users of the Yellow Card’s platform can purchase USDC on Base and transfer through the L2 blockchain, benefiting from cheaper fees and easy access to the stablecoin, too.

Chris Maurice, Co-Founder and CEO of Yellow Card, expressed his excitement in an X (formerly known as Twitter) post. Maurice is optimistic about the future of the partnership and the solutions it might bring to African people and businesses.

Beyond excited to bring @coinbase to Africa! 🎉🌍

Stablecoins like USDC solve real problems for real people & businesses on the continent.

With @yellowcard_app's regional expertise and Coinbase’s global brand and infrastructure, we will empower the next one billion people. https://t.co/9DOgZ4TKMr

— Chris Maurice⚜️ (@chrismaurice) January 11, 2024

The partnership aims to protect users’ savings across the African continent from “unstable currencies” and economic volatility due to the high inflation rates of up to 18.5%.

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Coinbase Introduces New Features For Global Remittances

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They will offer lower remittance fees, with the maximum fee being 2%. As well as offering access to the global financial system to small and medium enterprises (SMEs) by allowing merchants to set up a Wallet in less than a minute and broadening their growth.

In summary, the Coinbase and Yellow Card partnership will expand solutions for people and businesses in 20 African countries by making the global financial system more accessible.

Coinbase COIN COINUSD

Coinbase (COIN) is currently at $132.85 on the daily chart. Source: COINUSD on Tradingview.com
Featured image from Unsplash, Chart from TradingView.com
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Rubmar Garcia
Rubmar Garcia

Rubmar Garcia

Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology.

Read more

From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations.

In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn’t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored.

At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money.

After the failure of her home country’s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education.

Moreover, the peculiar nature of the crypto community sparked Rubmar’s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies ­–or her favorite memes.

In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school’s marching band.

She also has a passion for learning new languages and cultures, having set the goal to learn another six languages ­– currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats –hers or stray.

In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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