The prestigious Africa Financial Industry Summit (Afis) has honored Yellow Card, the Pan-African cryptocurrency exchange, with the coveted ‘Disrupter of the Year’ award, recognizing its groundbreaking contributions to the financial sector. This achievement marks a significant milestone, highlighting the increasing acceptance and integration of unconventional digital assets across the continent.

In an unprecedented win, Yellow Card, headquartered in Nigeria, clinched this esteemed award, making history as the first cryptocurrency company in Africa to receive such recognition. This acknowledgment from a traditional financial sector platform underscores a pivotal shift in embracing cryptocurrency technology within the industry.

Operating across 20 African nations, including Kenya, Uganda, Tanzania, and Rwanda, Yellow Card stands as one of the continent’s largest crypto exchange platforms. Beyond facilitating cryptocurrency transactions, the platform offers a cross-border payment service powered by stablecoins—cryptocurrencies backed by tangible assets.

Since its establishment in 2019, Yellow Card has not only provided a user-friendly platform for buying and selling cryptocurrencies but has also extended its services to assist established African businesses in acquiring and managing cryptocurrencies through an application programming interface (API) for seamless on and off-ramping.

Chris Maurice, the visionary founder of Yellow Card, expressed his belief in the transformative power of stablecoins, stating, “Stablecoins are going to change the world; they’re going to change the way people use money.” This ethos has been the driving force behind Yellow Card’s innovative approach to the financial landscape.

The judging panel, comprising five influential leaders from the financial industry, including representatives from the Central Bank of Mauritania and Ecobank’s innovation division, acknowledged Yellow Card’s disruptive impact on the sector. This recognition holds substantial significance amid the historical reluctance of banks and central institutions towards cryptocurrencies due to their volatility and perceived threat to monetary sovereignty.

Competing against other notable financial sector entities such as investment platform Bamboo, SME financier Sparkle, payment platform Moniepoint from Nigeria, and Cameroon’s Ejara, an investment platform, Yellow Card emerged triumphant in this year’s Afis award ceremony.

This recognition follows last year’s award conferred upon Jumo, a banking-as-a-service platform operating across seven African countries, including Kenya, Uganda, and Tanzania. The consecutive acknowledgments affirm the progressive integration of innovative fintech solutions into Africa’s dynamic financial landscape.