Visa is stepping into the realm of digital currencies on the African continent by partnering with Yellow Card Financial, a stablecoin payment provider. The collaboration aims to drive usage of digital dollars and blend established financial infrastructure with modern crypto innovation.
Strategic Agreement by Visa and Yellow Card to Boost Cross‑Border Remittances
According to a Bloomberg report on Thursday, Visa and Yellow Card have formalized an agreement to promote stablecoin adoption in emerging markets where Yellow Card operates. The first phase of their rollout is slated for this year in at least one African country, with broader expansion planned for 2026.
Chris Maurice, CEO and co‑founder of Yellow Card, highlighted the operational benefits of the partnership. He stated that the collaboration will help streamline treasury processes, strengthen liquidity management, and dramatically reduce the cost of money transfers. These efficiencies could significantly improve financial access and inclusion across the continent.
Yellow Card emerged in 2019 as Africa’s first licensed stablecoin payments operator, initially launching in Nigeria. Since then, it has expanded operations into 20 countries and processed over $6 billion in transactions—an impressive trajectory showcasing the rising demand for stable digital assets.
Africa’s Currency Challenges Fuel Stablecoin Growth
Chainalysis data shows that while general cryptocurrency usage in Sub‑Saharan Africa grew modestly in 2024, stablecoin adoption surged at a much faster pace. This growth is predominantly driven by persistent foreign exchange crises and constrained access to US dollars in several African countries.
Reflecting on broader industry trends, Maurice noted, “All the major payment companies are exploring ways to get into this space.” The Visa–Yellow Card initiative arrives at a moment when traditional payment networks are keen to integrate cryptocurrency solutions.
With Visa’s vast infrastructure and Yellow Card’s stablecoin platform, this partnership could mark a significant step toward reshaping cross‑border payments and unlocking crypto’s potential across Africa.
