Yellow Card teams up with Visa to expand stablecoin use in emerging markets
(left to right) Cuy Sheffield, Vice President, Head of Crypto, Visa; Chris Maurice, CEO & Co-Founder, Yellow Card; Godfrey Sullivan, Senior Vice President, Head of Product and Solution, CEMEA, Visa
Image: Supplied
Africa-focused crypto payments firm Yellow Card has partnered with global payments giant Visa to accelerate the adoption of stablecoins in cross-border transactions across emerging markets, the companies said on Thursday.
Yellow Card, a licensed stablecoin payments platform operating in more than 20 African countries, said the collaboration will explore new use cases for stablecoins in treasury operations, liquidity management, and international remittances.
The partnership is part of a broader push to modernis
e financial infrastructure in regions with limited access to traditional banking systems.
“Traditional payment companies continue to question not ‘if’ they need a stablecoin strategy, but how quickly they can deploy one,” said Chris Maurice, the CEO and co-founder of Yellow Card. “We are thrilled to partner with Visa to help realise the potential of stablecoin technology in emerging economies.”
Visa’s senior vice president and head of product and solutions for Central and Eastern Europe, Middle East and Africa (CEMEA), Godfrey Sullivan, said, “We believe that every institution that moves money will need a stablecoin strategy. As more players in the payments ecosystem explore this powerful new technology, Visa stands ready to help our partners navigate the transformation, bringing the scale, trust and innovation needed to help build the next generation of global payments.”
Stablecoins, digital currencies pegged to fiat money like the US dollar, are increasingly seen as a tool to lower the cost and increase the speed of cross-border transfers - especially in regions where foreign exchange access and payment infrastructure remain fragmented.
Yellow Card operates in 20+ African countries. This partnership further cements Yellow Card’s role as a critical financial gateway and infrastructure provider in emerging markets, it said.
BUSINESS REPORT