Yellow Card, a pan-African fintech firm, plans to expand the usage of stablecoin payments through a partnership with Visa, a global digital payments provider.
The fintech announced the Visa collaboration today, stating that it will assist drive the next wave of innovation in cross-border payments and financial infrastructure across the emerging markets where it is licensed to operate.
Yellow Card, which operates in 20+ African countries, said it provides access to “secure, compliant, and accessible stablecoin products for consumers, businesses, and developers.”
As a result, it stated the Visa partnership strengthens the fintech company's position as a critical financial gateway and infrastructure supplier in emerging economies.
Visa and Yellow Card will work together to identify stablecoin use cases and opportunities to assist streamline treasury operations, improve liquidity management, and enable faster, more cost-effective cross-border money transfers.
“Traditional payment companies continue to question not ‘if’ they need a stablecoin strategy, but how quickly they can deploy one,” said Chris Maurice, co-founder and CEO of Yellow Card. “We are thrilled to partner with Visa to help realize the potential of stablecoins technology in emerging economies.”
Godfrey Sullivan, senior vice president and head of product and solution for CEMEA, Visa, 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.”
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