Interview with Chris Maurice, founder and CEO of leading crypto exchange Yellow Card

BI Africa: Congratulations on your company’s recent $15 million Series A funding. Kindly talk us through the plans for the money.

Chris: Thank you! We're pumped. Running a startup is a lot more fun with money.

First things first, we're going to be getting very aggressive on hiring. We want the best developers, the best operators, the best marketers, the best overall talent that the continent has to offer on our team.

BI Africa: Earlier in the year, there were some major clampdowns on the crypto ecosystem in Nigeria and elsewhere. It’s interesting that these clampdowns haven’t deterred your commitment. So, we would like to know - what drives this commitment?

Chris: Crypto is the future. I caught the bug back in 2013, really committed to the industry in 2015, and never looked back. At Yellow Card, our mission is to make sure that anyone, anywhere on the continent is able to access crypto, on/off ramp from the digital ecosystem, and provide an easy, safe way to get involved. Happenings in one country or another won't deter us from our broader mission.

BI Africa: What is your take on the ‘over-regulation’ of cryptocurrencies by African central banks? Is your company lobbying to change that?

Chris: It varies greatly from one country to another. But yes, we see it as part of our responsibility, as first-movers, to help formalize the industry on the African continent. We do and will continue to work with banks, central banks, governments, etc. to make sure that all stakeholders understand cryptocurrency and the benefits that it brings to a country and to individuals.

We are also the only licensed crypto exchange anywhere on the continent with licensing in six countries right now. So there is good progress there.

BI Africa: As you may well know, China recently outlawed cryptocurrency. Now, African leaders are known to borrow from the playbook of the Chinese. Are you bothered that the likes of Nigeria may want to follow suit? And what would this entail for companies like yours?

Chris: Well, that first part is a whole different topic. But specifically as it relates to crypto, this isn't the first time nor will it be the last that China has banned crypto. As far as Africa, I am confident that leaders have seen enough of the positive that the space has brought to their countries—jobs, more dollars, more foreign investment, more companies starting up—that they would work with the private sector before making a sweeping move like that.

BI Africa: In view of everything that has happened in the crypto ecosystem this year, there is an overwhelming sense of uncertainty. What do you say to those who are worried over the future of cryptocurrency?

Chris: If you think this is uncertainty you should have seen 2017!

I would say that there's nothing to worry about and the future is bright. I'm not going to sit here and say Bitcoin will hit $1m tomorrow or that Xcoin is going to the moon, but I will say that now more than ever, there are a number of incredible projects, companies, and people working in this space. Major companies are getting onboard. Banks are getting on board. El Salvador even made bitcoin legal tender.

Everyone reading this should be a lot more confident now than any time before in the growth and resilience of the industry.

BI Africa: A recent report by Chainalysis listed six African countries on the top 20 list of global crypto adoption index. That’s a fantastic development. But do you see this trend continuing, being in mind all the regulatory pushbacks and skepticism hovering around cryptos?

Chris: Yes. In 2021, no one should even mention the word crypto if Africa isn't in the conversation. The continent has become and is continuing to grow as a real force in the industry, and some people are finally starting to take notice.

Soon, you'll see even more African countries on that list. Crypto solves so many issues that people deal with across the continent. The secret is out and there's no going back now!

BI Africa: What do you think are the biggest misconceptions against cryptocurrencies?

Chris: Cryptocurrency is not unstable. People see the price volatility of a few assets and assign that narrative across the board. One of the most popular tokens in Africa right now is USDT, which is pegged 1:1 against the U.S. dollar.

Additionally, bitcoin has never been hacked. Some exchanges have had security issues, which is why you should be careful how you store your coins. But the technology itself continues to run strong.

BI Africa: Let’s talk a bit more about YellowCard. Do you enable the buying and selling of all cryptos or just the major ones?

Chris: Right now, we operate in 12 countries, and we enable anyone to buy and sell Bitcoin, Ethereum, and USDT using their local currency. As part of our upcoming growth and expansion, we'll be offering more countries, more fiat options, and many more cryptos

BI Africa: Some people believe the proliferation of cryptocurrencies is a problem. What is your company’s position on this?

Chris: The proliferation of cryptocurrencies will solve more problems for people across the world, especially in places like Africa, more than any technology in recent history save the Internet itself.

BI Africa: Do you have any last remarks for crypto traders?

Chris: Buy bitcoin, specifically on Yellow Card.

ncG1vNJzZmiZlqe2pK2Nm6ysoZ6awLS1zaygnZ2iY7CwuY6lppyZnGS6or7KnqusZ5mjwaa%2B1aKcsGWnnsGpecKhqaKrXaKutr7InJxmnp%2Bqu6Wx0WaYp5xdmLKwec6fZKWdkZm2r7OMnKmyqKSkeqbEwqGYp5%2BVYsamuMuormabkaexcICUrZxqm6g%3D

ZBlogY

Interview with Chris Maurice, founder and CEO of leading crypto exchange Yellow Card