👨🏿🚀TechCabal Daily – A Chinese plot twist

Yellow Card, a stablecoin infrastructure company, has made waves in the crypto payments industry by acquiring GoMoney, a Brazilian crypto payments firm. This acquisition will allow Yellow Card to enter Brazil's largest cryptocurrency market and expand its operations. Founded in Africa in 2019, Yellow Card has since expanded into other emerging markets. The acquisition comes as Yellow Card continues to build its business across the African continent, and it exemplifies the company's strategic expansion into new markets.

In a different development, OPay, a Nigerian fintech company founded by Chinese businessman Zhou Yahui, recently suspended its plans to go public on the New York Stock Exchange (NYSE). The company had priced 16 million shares at $19 each, which would have raised $304 million and valued OPay at over $4 billion. However, just hours after setting the price for the IPO, OPay announced the cancellation of the listing.

The reason for this decision is a probe by an unnamed foreign regulator, which is believed to be a Chinese authority, according to Bloomberg. OPay has not disclosed the specifics of the inquiry but maintains that the investigation does not indicate any issues with its financial performance or operations. OPay expects the matter to be resolved.