Yellow Card Implements Travel Rule and Adds Exciting Features

At Yellow Card, we're continuously working to enhance your experience, and over the years, we have been able to provide secure, seamless, and personalised services just for you.

This year, we've recorded several exciting milestones, including the introduction of our new Coin Swap feature, enabling you to easily swap your favourite coins directly within our app. We've also expanded our coin offerings by adding highly requested coins such as Ripple (XRP) and Ripple USD.

As part of our ongoing dedication to safety, compliance, and innovation, we've implemented the Travel Rule, effective April 30, 2025, in line with Directive 9 and the related guidelines from the Financial Intelligence Centre (FIC) of South Africa.

What is the Travel Rule?

The Travel Rule is an international regulatory measure created to improve transparency and security in digital asset transactions. Under this regulation, licensed digital asset providers, including Yellow Card, are required to securely collect, verify, and share essential sender and receiver information for transactions exceeding a set limit. The purpose is to mitigate risks such as fraud, money laundering, and other illicit activities, providing a safer environment for all customers.

What Does This Mean for You?

The Travel Rule will apply under the following conditions depending on your location:

• South Africa: All crypto-send transactions, irrespective of amount.
• Nigeria: Crypto-send transactions above $1,000 (or its equivalent).
• All other countries: Crypto-send transactions of $3,000 and above (or their equivalent).

For transactions exceeding this limit, Yellow Card will collect data such as the full name of the sender and receiver and wallet address. It is important to note that your personal data will only be shared with licensed and regulatory bodies to maintain regulatory compliance and transaction security. At Yellow Card, we uphold stringent privacy and security measures to ensure your data is handled responsibly and safely.

How To Send Digital Assets On Yellow Card

We have systematically integrated these new compliance requirements into your familiar transaction experience, ensuring minimal disruption and maintaining ease of use. Here’s how to send your favourite coins on Yellow Card: 

1. Log in to your Yellow card account on your mobile app or through the web app
2. Click on the coin you wish to send among your list of favourite coins
3. Input the amount of coins you wish to send. 
4. Click on the channel you wish to use to send. You can send either via phone number or email address to existing Yellow Card customers or use the wallet address for Yellow Card or non-yellow card customers. 
5. For stablecoins like USDT or USDC, you'll see various network options. Carefully select the network matching your recipient's wallet network to ensure a successful transaction.
6. Clearly input the recipient's first and last names in the provided fields. Ensure the receiver’s details exactly match those of the intended recipient. This accuracy is vital to avoid errors, delays, or failed transactions.
7. Double-check all transaction details, including the coin amount, recipient's name, wallet address, and chosen network and enter the OTP pin sent to your email address to confirm the transaction. 
8. Once verification is complete and details are confirmed, the recipient will promptly receive the transferred coins in their wallet.

We remain deeply committed to providing you with the best financial services, making your money moves secure, efficient, fast, and cost-effective. With these latest updates, including our compliance with the Travel Rule, you can trade confidently, knowing that your assets and personal information are always protected.

Ready to enjoy these new, exciting updates? Start trading today!