Yellow Card, the country’s first registered crypto currency exchange has urged consumers to utilise crypto coins for payment, “We want to encourage Batswana to start using crypto to buy on a daily basis,” said Keletso Thophego, Botswana’s Yellow Card Chief Executive Officer during the company’s financial literacy tour.

Authorised by the Non-Banking Financial Regulatory Authority (NBFIRA) last year, as the first virtual asset operator, Yellow Card says consumers need financial literacy on digital coins, an alternative to hard currency.

Thophego said the tour was inspired by scammers ripping people off their hard earned cash.

“We want to demystfy the stereotypes on crypto currencies, we believe we can achieve great things,” Thophego said.

He said though crypto currency activities are on blockchain, which makes them transparent, as one can see how the money flows through the ledger, scammers are preying on gullible victims.

“Yellow Card does not give investment signals,” said Thophego, emphasizing that the company is a crypto currency exchange that allows one to buy and sell or send and receive crypto currency.

Consumers have been victims of online tricksters, and the development include cloning of social media accounts for genuine entities like Yellow Card to commit fraud.

Sponsored by Circle, a fintech offering a digital dollar – USDC redeemable 1:1 for U.S dollars, the tour urged both merchants and customers to use crypto currency, which promotes efficiency and financial inclusion.

USDC is one of the various coins Yellow Card’s app-based platform to buy and sell crypto currency online, alongside - Bitcoin, Tether, Ethereum, Cardano, Solana and Celo Dollar.

With operations in 16 of Africa’s 55 countries, Yellow Card has intentions to cover the whole of Africa.