tl;dr
Coinbase, the top US-based crypto exchange platform, is venturing into Africa through a partnership with Yellow Card to provide access to USDC. The partnership aims to help lay down the foundations of a modern decentralized financial system in African nations, and Coinbase predicts that the African ...
Coinbase, the top US-based crypto exchange platform, is venturing into Africa through a partnership with Yellow Card to provide access to USDC. The partnership aims to help lay down the foundations of a modern decentralized financial system in African nations, and Coinbase predicts that the African market may be more receptive to virtual currencies due to its younger demographic. Additionally, Coinbase plans to expand into the European Union by obtaining a license to launch crypto derivatives.
The top US-based crypto exchange platform announced that it will be teaming up with Yellow Card to provide millions of people access to prominent dollar-pegged crypto assets, such as USDC. Through this partnership, millions of users will gain access to USDC on Base with fast, reliable transactions at fees of less than half the cost of fiat transfers. Since many of the nations either have high inflation or are dependent on remittances, the partnership will help lay down the foundations of a modern decentralized financial system in Africa. Additionally, the cryptocurrency exchange predicts that the African market may be more receptive to virtual currencies due to its younger demographic, making it an ideal market for expansion.
Africa is by far the youngest continent, and young people are more likely to recognize the benefits of crypto. This is demonstrated by the fact that more than seven in 10 crypto owners globally are under age 34. In countries with legacy financial institutions, those institutions just can’t deliver. As a result, they are now able to skip over an outdated, legacy financial system bogged down by slow speeds, high fees, and geographic borders, straight to one that is up to date, global, and decentralized. Furthermore, earlier this week, Coinbase announced that it would also be looking to expand into the European Union (EU) by obtaining a license to launch crypto derivatives, demonstrating its ambitious plans for growth and expansion.
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