Updated: August 08, 2024
Coin and Token Listing Policy
Our Coin and Token Listing Policy mandates that we follow a rigorous process when considering whether to list any coin or token on our Exchange, in accordance with our customer-centric approach, which demands that we make every effort to ensure the safety and security of our customers’ assets. We evaluate a wide variety and number of considerations before determining whether to list any coin or token on our exchange, including market demand, technological viability, sustainability, financial stability of the issuer, management of the issuer, regulatory compliance, and many other factors. As a result of the rigorous process we follow with respect to coin and token listing, unlike other exchanges or P2P platforms, only 10 coins and tokens are currently listed on our exchange.
Custody of Digital Assets
Stablecoins, Bitcoin, and other digital currencies owned by customers are held in their wallets on our platform. We use Fireblocks, the world’s leading supplier of trusted and secure infrastructure for digital asset operations, for the secure custody and management of digital assets. Fireblocks holds certifications for SOC 2 Type II, ISO-27001, ISO 27017, and ISO 27018, and is regularly security audited through penetration testing undertaken by ComSec and NCC Group. In addition, we use Fireblocks’ MPC-CMP for private key protection on all digital assets, thereby ensuring that keys are never in a single point of compromise. Transactions run through an intensive policy regime, with policies mapped to minimize risk by country, asset type, transaction type, and operational role.
Staking and Lending
We do not undertake staking, i.e. supporting the borrowing or lending of or against digital assets. Moreover, we do not use customer assets as security for company borrowings, and we do not have any debt financing.
Corporate Information
Yellow Card Financial Inc., the parent company for all our operating subsidiaries, was originally incorporated as a limited liability company in Delaware in 2016 as Yellow Card Financial, LLC. On June 15, 2020, Yellow Card Financial, LLC undertook a conversion to a C-corporation, with the resulting entity being incorporated in Delaware as Yellow Card Financial Inc. Yellow Card Financial Inc. maintains a registered office at 16192 Coastal Highway, Lewes, Delaware 19958, as well as a principal business office at 2324 Second Avenue North, Birmingham, Alabama 35203.
Across Africa, we have incorporated and registered local subsidiaries, which employ our people and pay applicable taxes. Unlike many digital asset exchanges, which only operate “offshore”, we comply with all applicable laws and regulations in the countries where we operate.