Visa has teamed up with Yellow Card Financial, a digital payments company based in Africa, to expand the use of dollar-backed stablecoins.
As reported by Bloomberg, the two companies signed an agreement to begin rolling out this new payment method in at least one African country before the end of 2025. More countries are expected to be added in 2026.
The goal is to offer a more affordable and efficient way to send money across borders, especially in places where banking systems are limited.
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Chris Maurice, who co-founded Yellow Card, explained that large payment firms are no longer debating whether to use stablecoins. He said the partnership with Visa will help improve money transfers and support better financial management for businesses.
Maurice added that nearly every company in the payments industry is exploring stablecoins as a new method for transferring money.
Yellow Card, which started in Nigeria in 2019, was the first licensed stablecoin payment company in Africa. It also runs a crypto exchange. The company now operates in 20 countries and has processed more than $6 billion worth of transactions.
Additionally, Godfrey Sullivan, a senior executive at Visa, said the collaboration is about making payments quicker and easier to access. He also stated that as more businesses explore stablecoins, Visa is prepared to support them by offering its expertise and network.
On June 5, Uber, a ridesharing platform, announced plans to explore the use of stablecoins. What did CEO Dara Khosrowshahi say about it? Read the full story.
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