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Crypto exchange platform, Yellow Card launches PayPal USD

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Pan-African cryptocurrency exchange platform, Yellow Card has made history by becoming the first fintech on the continent to launch a PayPal USD, (PYUSD).

According to the CEO and Co-founder of Yellow Card, Chris Maurice, the new stablecoin fromPayPal issued by Paxos, will open new horizons for digital financial transactions between Africa and the United States.

“This moment is a testament to the relentless pursuit of innovation and financial inclusion that Yellow Card stands for,” Maurice said.

“Launching PYUSD on our platform is not just a business achievement, it’s a commitment to our mission of making digital currencies accessible to everyone in Africa.”

He explained further that with the availability of PYUSD on Yellow Card means customers can smoothly transfer funds to and from the US.

“This is because PayPal and Venmo users in the US can accept PYUSD and exchange for the dollar. Essentially, it removes longer processes while providing security, stability, speed – while still being cost effective and less expensive.

“The collaboration also introduces newfound global trading opportunities and access for customers based in Africa as customers can seamlessly buy, sell, and transfer PYUSD on the Yellow Card platform without the need for a PayPal account”, he said.

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Huawei launches cloud service in Nigeria

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Global technology company, Huawei, has launched its first African hyperscale local cloud service in Nigeria, making it the first international cloud provider to offer such services in the country.

The CEO of Huawei Nigeria, Chris Lu, who unveiled the new local cloud in Lagos on Wednesday, said it was powered by Tier 3+ data centres, providing ultra-fast services with a latency of just 15 milliseconds.

According to Lu, this will ensure that data storage and computing resources remain within Nigeria, benefiting local businesses and sectors, particularly fintech companies that require strict adherence to data protection laws.

At the launch event, themed “Leap Now With A Better Cloud,” Lu emphasised the company’s dedication to supporting Nigeria’s digital economy.

He noted that the initiative was a significant milestone towards meeting the country’s data protection regulation, and alignment with the Nigeria Data Protection Commission’s objectives to limit cross-border data transfer and have data kept within the country.

“With disruptive technology, we can transform our daily lives, our industries, and our economy. Not knowing where your data is stored is terrifying,” Lu said.

“The Huawei local cloud ensures your data and that of your customers are safely protected. Our local cloud provides better latency, better services, and ensures data sovereignty for our customers.

“Huawei’s is offering enhanced data sovereignty, reduced latency, and bolstered support for local businesses.The service aims to support Nigerian startups, SMEs, and the broader tech ecosystem and aligns with Nigeria’s regulatory environment and digital transformation goals.”

Beyond cloud technology, Huawei has invested heavily in Africa’s tech ecosystem, forming partnerships with governments and private entities to drive digital transformation.

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SunCulture partners Turaco to empower Kenyan farmers with affordable climate insurance

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Kenyan solar-powered irrigation solutions startup, SunCulture, has joined forces with leading mass-market insurtech company, Turaco, to launch a platform called “SunCulture Protect”, aimed at providing enhanced protection to small holder farmers using SunCulture’s pay-as-you-go (PAYG) devices.

According to Samir Ibrahim, the CEO of SunCulture, the partnership between two leading Kenyan tech companies will address the urgent need for risk mitigation tools, such as insurance, for the most vulnerable populations, enabling and expanding access to healthcare.

“As the impact from climate change escalates, the frequency and intensity of extreme weather events are expected to rise, negatively affecting health outcomes and pushing millions of Africans into poverty,” Ibrahim said.

“At SunCulture, our mission has always been to help small holder farmers grow more food and improve their livelihoods.

“Partnering with Turaco allows us to extend our commitment by not only providing sustainable energy solutions but also offering financial security and peace of mind to our customers and their families,” he said.

He also stated that SunCulture Protect offers essential health and life coverage, safeguarding customers and their families against unforeseen medical expenses and risks that are exacerbated by extreme weather events.

Ted Pantone, CEO of Turaco, who also commented on the partnership, said he believed affordable insurance should be accessible to everyone, especially those that are the most vulnerable to the impacts of climate change.

“Our partnership with SunCulture enables us to provide essential coverage that not only protects livelihoods but also fosters long-term resilience among small holder farmers,” he said.

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