INSUBCONTINENT EXCLUSIVE:
Credit card giant Visa has partnered with Yellow Card Financial, an African stablecoin payments provider, to accelerate the adoption of
digital dollars across the continent, underscoring the growing synergy between traditional payment networks and cryptocurrency solutions.The
two companies have signed an agreement to promote stablecoin use for cross-border payments in emerging markets where Yellow Card operates,
Bloomberg reported Thursday
Yellow Card will launch stablecoin transactions with Visa in at least one African country this year, with additional rollouts expected in
2026.Chris Maurice, co-founder and CEO of Yellow Card, said the collaboration will focus on enhancing treasury operations, improving
liquidity management and enabling more cost-effective money transfers.Sub-Saharan Africa saw a modest increase in overall cryptocurrency
usage in 2024, but stablecoin adoption is accelerating more rapidly, according to a report by Chainalysis
This trend is largely driven by limited access to US dollars and ongoing foreign exchange crises in several countries.Source: Yellow
After launching in Nigeria in 2019, the company now operates in 20 countries and has processed over $6 billion in transactions, according to
empire strikes out: Institutionalists failed to kill the stablecoin billDollar-pegged stablecoins such as USDt (USDT) and USDC (USDC) have
gained significant traction in Africa
Stablecoin and Bitcoin adoption trends in Sub-Saharan Africa
Source: ChainalysisUSDC issuer Circle has identified Africa as a vital market for digital dollars
In April, the company partnered with African payment provider Onafriq to pilot USDC settlements across 40 countries.Related: Xend Finance,
Risevest launch tokenized stocks platform in Africa
