Visa and Yellow Card Partner to Boost Digital Dollar Adoption in Africa
In a significant move to enhance financial inclusion and streamline cross-border payments, Visa has partnered with Yellow Card Financial, a leading African stablecoin payments provider. This collaboration aims to accelerate digital dollar adoption across the continent, particularly in regions with limited access to US dollars and facing foreign exchange challenges.
Stablecoin Payments Transform African Finance
The partnership will introduce stablecoin-based payment solutions, beginning in one African country this year with plans for broader expansion by 2026. Chris Maurice, Yellow Card’s co-founder and CEO, emphasized three key benefits:
- More efficient cross-border payments
- Lower transaction costs
- Improved access to dollar liquidity
Growing Stablecoin Dominance in African Markets
According to Chainalysis research, stablecoins now account for 43% of cryptocurrency transaction volume in Sub-Saharan Africa. Dollar-pegged assets like USDT and USDC provide stability in volatile economic environments, driving their rapid adoption.
Yellow Card’s Pioneering Role
As Africa’s first licensed stablecoin payments operator, Yellow Card has processed over $6 billion in transactions since 2019. Operating in 20 countries, the platform demonstrates cryptocurrency’s growing role in solving real financial challenges.
Circle’s African Expansion Strategy
Circle, issuer of USDC, views Africa as strategic for digital dollar growth. Its partnership with Onafriq enables USDC settlements across 40 countries, showcasing stablecoins’ potential to transform regional payments and remittances.
