By Abdullahi Salad - Reporter
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NAIROBI, 1 November 2026 Kenya-headquartered Yiksi has secured a Category I crypto asset licence in South Africa, opening one of the most advanced financial markets on the continent to the company.
The company's South African entity, Yiksi Fintech (Pty) Ltd, has been authorised by the Financial Sector Conduct Authority (FSCA) as a Category I Financial Services Provider in respect of crypto assets, under registration number 55213.
South Africa is among the first African countries to recognise crypto assets as a "financial product". That decision means any company offering crypto services in the country must obtain a licence from the FSCA and comply with rules similar to those that apply to banks and investment firms.
The Category I licence allows the company to provide crypto asset services to customers, within the scope and conditions of the licence.
To obtain the licence, a company must demonstrate that its leadership is competent and of good standing, that it has strong governance systems, and that it has measures in place to combat money laundering and terrorist financing.
Yiksi is a financial technology company headquartered in Nairobi. It was founded and is led by Bile Ahmed Kabah. The company began as an exchange platform for trading between crypto and traditional currencies, where users buy and sell Bitcoin, Ethereum, USDT and other digital assets.
Yiksi offers three main services: Taran App, which helps users convert local currencies into stablecoins, digital currencies designed to hold a stable value; Yiksi Wallet, for storing and managing assets; and Yiksi Pay for Merchants, which allows businesses to accept digital payments. These services also make cross-border transfers easier.
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The company focuses on the Horn of Africa and East Africa. It says it is transforming finance in the Horn of Africa by enabling people to easily convert local currencies into globally accepted digital assets.
According to the company, the licence comes as governments across Africa bring an end to the era in which crypto operated without regulation.
In a market like this, obtaining a licence gives a company three things money cannot buy: customer trust, as customers' funds are held by a company supervised by a government regulator; access to banks, as the licence opens the door for Yiksi to pursue partnerships in banking, liquidity and payments, with banks often refusing to work with unlicensed crypto companies; and a foundation for expansion, providing a legal basis for growth in the South African market and beyond.
"Securing FSCA authorisation as a Category I financial services provider for crypto assets marks a significant milestone for Yiksi," said Bile Ahmed Kabah, Founder and CEO of Yiksi. "It reinforces our commitment to regulatory accountability and customer trust as we build accessible financial services connecting Africa to the global digital economy."
The licence is not the only sign of Yiksi's growth. In May this year, global firm Cantor8 entered into a partnership with Yiksi Limited to connect crypto services with Africa's mobile money networks.
The company says it aims to become the region's largest, most trusted and most impactful fintech company.