Yellow Card Financial Nigeria Limited, a global stablecoin infrastructure provider, has been admitted by the Securities and Exchange Commission, Nigeria, into the Commission’s Accelerated Regulatory Incubation Program (ARIP) on a conditional approval-in-principle basis, marking a significant milestone in the company’s continued regulatory progress in one of its founding markets.

The admission allows Yellow Card Financial Nigeria Limited to participate in ARIP within the scope and subject to the conditions set by the SEC. This relates to the company's admission into the program, not to approval of any specific product, service, or stablecoin offering in Nigeria. The AIP is not a full license and remains conditional on Yellow Card's continued compliance with applicable regulatory, operational and supervisory requirements.

"We are pleased to receive the SEC's conditional approval for admission into the Accelerated Regulatory Incubation Program. Nigeria isn't just one of our markets; it's where Yellow Card started and remains one of the most important markets we operate in today," said Lasbery Chioma Oludimu, Group VP of Operations and MD of Yellow Card Financial Nigeria Limited. 

"As we move through the program, we remain committed to operating with high standards of compliance and professionalism, while ensuring that customer protection and regulatory compliance remain central to our approach," she added.

Since registering its first African entity in Nigeria in 2019, Yellow Card has established the country as one of its key hubs for operations, with its largest team and members of its senior leadership team based there.

The company now operates across more than 60 global markets and works with global leading financial and payments institutions including Visa, Mastercard, Western Union and MoneyGram.

"As a company, we set out to build stablecoin infrastructure for the world, not just for one region. That means meeting the highest compliance standards in every market rather than cutting corners anywhere," said Chris Maurice, Co-Founder and CEO of Yellow Card. "Admission into ARIP is an important step in our engagement with Nigeria's regulator, and we look forward to continuing that work as we progress through the program."

The announcement follows Yellow Card’s recent $40 million strategic funding round, bringing the company’s total funding to more than $120 million as it continues to expand its stablecoin infrastructure globally. For more information, visit yellowcard.io.