- Yellow Card raised $33M in Series C funding to expand stablecoin solutions across 20 African countries.
- Yellow Card aims to enhance API products, enabling easier cross-border payments for businesses using stablecoins.
Yellow Card, a pioneering fintech company in Africa, has secured $33 million in Series C financing. Blockchain Capital led this fundraising, with other prominent backers including Polychain Capital, Galaxy Ventures, and Winklevoss Capital.
The fresh capital marks a major turning point for Yellow Card as well as the larger African fintech scene since it brings the total equity financing of $85 million.
Expanding Stablecoin Solutions to Power Africa’s Cross-Border Payments
With an eye toward enhancing Yellow Card’s API and payment widget offerings, the money will be utilized to support their ongoing global growth. These solutions are essential for local firms handling cross-border payments and Treasury management utilizing stablecoins, as well as for allowing multinational corporations to reach African markets.
Yellow Card’s services mostly enable transactions in stablecoins such as USDT, USDC, and PYUSD, thereby providing companies with more affordable and quick access to real money liquidity. Having started in 2019, the business has grown to operate in 20 African nations, enabling approximately $3 billion in transactions.
Yellow Card’s CEO and co-founder, Chris Maurice, underlined that this money confirms the critical importance of digital assets for companies all throughout Africa. He thanked the investors that align with the company’s goal and showed hope about the prospects that lie ahead.
The company’s emphasis on stablecoins sets it apart in Africa’s changing digital payments scene since it provides companies with scalable solutions in a continent where financial infrastructure has traditionally been a difficulty.
This financing round also highlights a more general change in Africa’s fintech scene, as stablecoins are becoming more and more popular alternatives for conventional payments. Yellow Card is leading the way in delivering worldwide financial solutions to Africa by allowing foreign businesses like Coinbase and Block to enter African markets under a bridge.
More broadly, stablecoin-based developments are not unique to Africa. For instance, CNF previously reported that SCB in Thailand started the first stablecoin-based cross-border payments system, therefore enabling 24/7 transactions with cheap cost.
Beside that, as we previously highlighted, the Central Bank of the United Arab Emirates (UAE) has authorised the introduction of a regulated AED-backed stablecoin called AE Coin.
This project supports the UAE’s Digital Government Strategy 2025, therefore reinforcing its place in the world digital economy. AE Coin is made for dependability and stability in daily payments, unlike speculative digital assets.
