With so much progress and developments taking place in the cryptocurrency and blockchain industry, the major economic bodies have started to feel the need to adopt the blockchain systems and mechanisms into their own. Being considered as the future of the world’s economy, many big countries such as Russia, America, England, Germany, Spain, China, India and many more have started to make rules for the blockchain industry in order regulate them and make them safe & secure for their public as well as their economy.
Amidst all the development, even Africa has made its way and put itself on the track of cryptocurrency and blockchain industry. In the recent event, a Nigeria (Africa) based cryptocurrency exchange (Yellow Card) recently released a statement that they have managed to secure over $1.5 million. Yellow Card added that the funds came in the form of investments from the cryptocurrency users registered with the exchange and another party that helped them raise the funds is Polychain, which is an entity responsible for managing the Celo Ecosystem Fund.
Yellow Card’s CEO, Chris Maurice, recently revealed to a source that the funds they raised with the help of Polychain and investors from the cryptocurrency industry will help them strengthen their system, solidify their position as the number one cryptocurrency exchange in Africa that deals in the buying and selling of Bitcoin.
Chris also added that the funds that they have raised will go a long way in helping them develop their security and transaction speed, which would help them work shoulder to shoulder with the world’s largest cryptocurrency exchanges. This is something that would eventually help them in expanding their services from Nigeria, Botswan and South Africa, where Yellow Card exchange already resides as the top cryptocurrency exchange..
He also added that over the passage of time, the usage of cryptocurrency has seen a significant increase and more people are getting exposure to this industry every single day. At present, many people in Africa are aware of the largest Cryptocurrency (BTC) and the ratio of the people who know about the cryptocurrency and blockchain industry in Africa as the same as the number of people in the USA who about the crypto-world.