- Visa partners with Yellow Card to expand stablecoin use in Africa.
- Partnership targets cheaper, faster cross-border payments using stablecoins efficiently.
- Stablecoins like USDC, USDt rise in Nigeria and Ethiopia.
Visa has announced the expansion of its stablecoin business to new regions, including Central and Eastern Europe, the Middle East, and Africa (CEMEA). As part of this move, Visa is working with a top African crypto exchange and stablecoin payment platform, Yellow Card, to build a strategic partnership. This partnership is going to help in enhancing cross-border payments as well as firming up the financial infrastructure in the emerging markets. This news was shared via Visa’s official X account.
Yellow Card and Visa Target Faster, Cheaper Cross-Border Payments
Yellow Card is recently gaining popularity as one of the most reliable locations to transact in stablecoins in Africa. It is working in more than 20 African states, and it offers safe and easy online financial services to people, companies, and developers. In their collaboration with Visa, the two corporations aim to make payments utilizing stablecoin quicker, cheaper, and more effective.
In this partnership, Visa and Yellow Card will experiment with the various applications of stablecoins. They will be focusing mainly on the enhancement of treasury management, liquidity mergers, and money transfers across borders. These are the key areas where conventional payment systems turn out to be quite slow and expensive.
In addition, the companies are optimistic that this collaboration will ensure that the emerging markets have access to more dependable financial tools. Chris Maurice, the CEO of Yellow Card, said that the traditional payment organizations are focusing on a different future. They are not questioning whether to employ stablecoins anymore, and they are wondering how quickly they can do so. He stated that he was excited to be collaborating with Visa, a reliable brand in the global payment sector, to introduce stablecoin innovation to the underserved areas.
These sentiments were shared by Godfrey Sullivan, the Senior Vice President and Head of Product and Solution of CEMEA of Visa. He pointed out that every financial institution that deals with the transmission of money will shortly require a strategy for stablecoin. He added that Visa is willing to assist these institutions to embrace the new technology by offering the assurance and size required to go international.
Stablecoins Like USDC, USDt Gain Ground in Nigeria, Ethiopia
This is not the first story when Yellow Card found support among the international financial actors. In August 2024, Yellow Card also partnered with Fireblocks, a major digital asset infrastructure provider. They jointly streamlined crypto transactions in Africa, especially cross-border transfers.
In recent years, stablecoins like USDt and USDC have become popular across Africa. These cryptocurrencies pegged to the dollar provide a more stable and reliable option to their national currencies in those nations that have witnessed an inflationary environment or currency depreciation. The two big economies in Africa, Nigeria and Ethiopia, have experienced a steep increase in the application of crypto at the retail level.
Moreover, the collaboration brings out the increasing significance of Africa in the international crypto and digital payment markets. With increasing numbers of people in the region using stablecoins as a way of attributing transactions and savings in their daily lives, corporations such as Visa and Yellow card are moving in to offer solutions of safer and more effective services.
Finally, Visa and Yellow Card can be considered one of the significant events of the modern world of digital payment. It allows access of more reliable, quicker, and less expensive financial services to millions of people in Africa and other emerging markets. The partnership allows the incorporation of Visa and Yellow Card to come together and build the future of transnational finance more inclusively and creatively, building onto the marriage between the local and the global.
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