The growing adoption of stablecoin technology by businesses and financial institutions is creating new opportunities for faster and more efficient cross-border payments. As demand for digital financial infrastructure continues to rise, Africa-founded fintech Yellow Card has secured $40 million in strategic equity funding to expand its institutional payment platform and support its next phase of international growth.
The funding round was backed by SC Ventures, the venture capital arm of Standard Chartered, Sony Innovation Fund, Polychain Capital, Blockchain Capital and other strategic investors. The latest investment brings Yellow Card’s total equity funding to more than $120 million. According to CoinDesk, the transaction values the company significantly above its reported $200 million valuation in 2022, although still below the $1 billion mark.
Founded in 2016 by Chief Executive Officer Chris Maurice and Chief Technology Officer Justin Poiroux, Yellow Card has established itself as one of Africa’s leading stablecoin payment platforms. The company has processed more than $10 billion in transaction volume, supports over 50 currencies, and operates under licenses or registrations in 22 jurisdictions across Africa, Europe, and North America.
Expanding Access to Global Digital Payments
Yellow Card will use the new funding to expand its Global USD Accounts platform, which allows businesses to hold U.S. dollar balances, manage treasury operations, convert between stablecoins and move funds through local payment rails across more than 50 countries.
The expansion is expected to strengthen access to dollar-based financial services for businesses operating across different markets while reducing the time and cost associated with international transactions. It also positions the company to meet the growing demand from banks, fintech companies and enterprises looking for more efficient ways to move money across borders.
In a statement announcing the investment, the company said the funding would help scale its infrastructure and make stablecoin-powered financial services available to more institutions.
“We just closed a $40 million strategic funding round. This round helps us get to the next stage, connecting more banks, fintechs and enterprises to stablecoin rails, so dollar access isn’t just something a handful of institutions get to offer,” the company said.
Beyond strengthening its operations across Africa, Yellow Card plans to expand its stablecoin infrastructure into Latin America and the Asia-Pacific region, extending its payment network into new markets and supporting businesses with faster international payment solutions.
Meeting Growing Demand for Blockchain Infrastructure
Yellow Card says it is increasingly working with commercial banks around the world to move U.S. dollars using blockchain-based infrastructure instead of traditional correspondent banking systems. The company’s long-term objective is to improve the speed and efficiency of international payments while lowering transaction costs for businesses and financial institutions.
“Our focus is on connecting banks and enterprises to stablecoin infrastructure that makes moving dollars across borders faster and more efficient,” said Chief Executive Officer Chris Maurice.
The company noted that while transaction volumes have historically been shared almost equally between corporate customers and large financial institutions, demand from banks is now growing more rapidly as regulated financial institutions continue adopting blockchain-based payment infrastructure.
The investment comes as financial institutions around the world accelerate efforts to modernise cross-border payments using blockchain technology. Stablecoins, which are digital assets backed by traditional currencies such as the U.S. dollar, are increasingly being adopted because they offer businesses a faster and more cost-effective way to move money internationally while maintaining price stability.
The wider financial industry is also embracing blockchain innovation. Established financial infrastructure providers, including SWIFT, have launched pilot programmes exploring distributed ledger technology to improve cross-border financial messaging and asset transfers. Against this backdrop, Yellow Card’s latest investment strengthens its ability to support businesses and financial institutions seeking faster, more efficient and more accessible global payment solutions while reinforcing Africa’s growing role in the evolution of digital finance.
