Yellow Card integrates digital asset infrastructure provider Fireblocks to improve cross-border transactions for businesses and individuals.
The African-powered stablecoin on/off ramp will leverage Fireblocks to remove barriers for global corporate treasury to access African markets by offering secure and effective on-chain solutions.
Up to 14 million MPC wallets
With Fireblocks’ Wallets-as-a-Service (WaaS), Yellow Card can create, manage and secure up to 14 million Multi-Party Computation (MPC) wallets at scale and protect customer assets.
The partnership will address the complex challenges faced by multinational corporate finance, such as regulatory compliance, currency volatility and inefficient legacy banking systems.
Present in 20 African countries, Yellow Card is at the forefront of helping organizations manage foreign exchange (FX) risk through stablecoin transactions. Using USDT, USDC and PYUSD, the company helps businesses manage their treasury and related transactions within and outside the continent.
– Advertising –
This is a pivotal moment for both companies as they pave the way for more streamlined and secure financial transactions across Africa. Yellow Card and Fireblocks share a shared vision of innovation and excellence and a common goal to transform cross-border transactions by creating new benefits for businesses and the economy through innovation and excellence.
Remittances worth $100 billion flow to Africa
Chris Maurice, CEO and co-founder of Yellow Card, said: “We are excited to partner with Fireblocks to enable real-world use cases for stablecoins and solve the complex challenges of international and pan-African transactions. Together, we are improving how businesses around the world manage their finances, make payments and drive innovation across Africa.”
Ran Goldi, SVP Payments and Network at Fireblocks, said: “Like the rest of the world, Africa has seen a shift from traditional payment methods to alternative payment methods, driven by new technologies, with $100 billion worth of remittances flowing into the continent. However, cross-border payments are still expensive, and low-value cross-border payments attract high fees. We are excited to partner with Yellow Card to provide our Direct Custody Wallets-as-a-Service (WaaS), which will enable them to secure their customers’ digital assets at scale.”
