Yellow cardits subsidiary in Poland, Yellow card sp. Zoohas been registered as a virtual asset service provider (VASP) with the Polish Register of Activities in the Field of Virtual Coins, maintained by Polish Ministry of Finance.
The Company is now registered for AML and financial crime data reporting purposes with the Polish Financial Intelligence Inspector General.
What they say
Chris Morrisco-founder and CEO of Yellow Card, said, “We are pleased to complete the VASP registration process in Poland, which represents our first VASP registration outside of Africa. This license really speaks to the world-class compliance and legal functions that work tirelessly to make regulatory engagements like this possible around the world..”
Craig Stoerthe General Counsel of the Yellow Card, added, “Yellow Card is a strong supporter of virtual asset regulation, as regulatory and licensing frameworks promote consumer protection and create a level playing field while encouraging innovation. Our registration with the Polish VASP represents the first step in our journey to finally obtain a MiCA license to further enhance our offerings between Africa and Europe.”
The big picture
As the largest and first licensed Stablecoin on/off ramp on the African continent, operating in 20 countries, Yellow Card has positioned its reach and impact beyond the continent.
Leveraging on/off ramps and the Stablecoin Payments API, Yellow Card aims to streamline cross-border transactions, enabling individuals and businesses on both continents to access efficient and secure financial services.
Zoom out
Yellow Card gained widespread attention in September 2022 as the first company to secure a crypto license in Africa when it received a VASP license to operate in Botswanamarking an important milestone.
In addition to VASP licenses in Botswana and Poland, Yellow Card holds a general financial services license for the CEMAC region.
The company is also a participant in the Bank of Zambia’s Fintech regulatory sandbox.
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