Yellow Card Partners With Fireblocks to Revolutionize Cross-Border Payments Across Africa
Yellow Card, a pan-African Fintech company that focuses on cryptocurrency transactions and financial services, has announced a strategic integration with digital asset infrastructure provider Fireblocks.
This partnership aims to enhance cross-border transactions for businesses and individuals across the continent. By leveraging Fireblocks’ advanced technology, Yellow Card seeks to overcome significant barriers faced by global corporate treasuries when accessing African markets, offering secure and efficient on-chain solutions.
One of the key components of this collaboration is Fireblocks’ Wallets-as-a-Service (WaaS). This feature enables Yellow Card to create, manage, and secure up to 14 million multi-party computation (MPC) wallets at scale, ensuring the safety of customer assets. The integration will also support stablecoin transactions, which are increasingly important for managing foreign exchange risks and facilitating cross-border payments in Africa.
Chris Maurice, CEO and co-founder of Yellow Card, highlighted the significance of this partnership, stating, “We’re excited to work with Fireblocks to enable real-world use cases for stablecoins, solving the complex challenges of international and pan-African transactions.” Through this collaboration, Yellow Card aims to revolutionize how businesses manage their treasury operations, make payments, and drive innovation across the continent.
Fireblocks, known for its user-friendly platform for blockchain-based products and secure digital asset operations, has facilitated the transfer of over $6 trillion in digital assets. The partnership will address the challenges faced by multinational corporate treasuries, such as regulatory compliance, currency volatility, and the inefficiencies of legacy banking systems.
Ran Goldi, SVP of Payments and Network at Fireblocks, emphasized the transformative impact of this collaboration, noting that Africa is experiencing a shift from traditional payment methods to alternative payments driven by new technologies. Despite the growing remittance flows into Africa, cross-border payments remain costly and inefficient. By working together, Yellow Card and Fireblocks aim to introduce streamlined and secure financial operations across Africa, benefiting businesses and the broader economy.
With operations in 20 African countries, Yellow Card is at the forefront of helping organizations mitigate FX risk through stablecoin transactions, utilizing currencies such as USDT, USDC, and PYUSD. This partnership marks a significant step forward in transforming cross-border transactions and enhancing financial operations across the continent.
