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Stablecoin is Simplifying Cross-border Transactions

This announcement comes as stablecoins become one of the hottest trends in global finance. Over the past year, African fintechs including Flutterwave and LemFi have announced initiatives tied to stablecoin infrastructure. At the same time, regulators are growing more comfortable with digital assets pegged to traditional currencies like the US dollar.

For businesses operating across multiple African markets, stablecoins are increasingly seen as a practical way to settle cross-border payments, manage foreign exchange exposure, and access dollar liquidity. It lets them do this without waiting days for international bank transfers.

Yellow Card has been building toward this moment for years. Chris Maurice and Justin Poiroux founded the company in 2019 from their dorm room in Auburn, Alabama. It started as a cryptocurrency exchange before gradually repositioning as a stablecoin infrastructure provider.

“This investment is a vote of confidence in what we’ve spent years building: the infrastructure that lets global businesses move money without traditional correspondent banking,” said Maurice, CEO and Co-Founder of Yellow Card.

Businesses using the platform will be able to collect and disburse local currencies through domestic payment rails across more than 50 countries. This gives companies a simpler way to move money across emerging markets.

Yellow Card wants to become the financial plumbing that helps businesses move money across emerging markets without relying on slow and expensive correspondent banking systems. The leading global stablecoin infrastructure provider currently holds licenses in more than 20 countries across Africa, Europe, and North America. It has also established partnerships with global financial and technology companies, including Mastercard, Visa, Western Union, Coinbase, and PayPal.

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It raised a $15 million Series A in 2021, a $40 million Series B in 2022, and a $33 million Series C in 2024 as it shifted focus to enterprise payments. This latest funding round brings Yellow Card’s total equity financing to over $120 million.

Yellow Card is Building Stablecoin Rails to Help African Businesses Move Money Faster

The new capital also suggests investors believe that the strategy is paying off, especially as demand for stablecoin-based financial services accelerates globally. “Stablecoins are here to stay, but their adoption will depend on robust infrastructure and clear real-world utility,” Alex Manson, CEO of SC Ventures, said. 

“Yellow Card is building those rails for businesses across Africa, enabling them to access and move value efficiently across markets. We believe YC is well positioned to scale across Africa and beyond and look forward to supporting its next phase of growth.” 

The investment from Sony Innovation Fund reflects growing institutional interest in stablecoins for payments globally, and will enable Yellow Card to expand its reach in Asia-Pacific.

“Sony Innovation Fund is actively investing across the web3 technology stack, and we are excited to back Yellow Card as it builds the stablecoin infrastructure layer that emerging markets need to move money faster, more reliably, and at global scale,” said Austin Noronha, Managing Director, Sony Ventures.

The financing will help bring Global USD Accounts to more businesses, giving them one account to hold U.S. dollars, hold and swap stablecoins, manage treasury, and collect and disburse local currencies via domestic rails in over 50 countries. The accounts run on infrastructure Yellow Card has operated for years. 

The deal also signals something bigger about Africa’s fintech ecosystem. Venture funding has become harder to secure over the past two years, yet investors are still writing large checks for startups building core financial infrastructure rather than consumer-facing apps. 

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For Yellow Card, the goal is no longer just helping Africans buy and sell crypto. It’s becoming the rails that banks, fintechs, and global businesses use to move money across emerging markets. If that vision succeeds, the company could become one of the continent’s most important financial infrastructure providers in the stablecoin era.

Main Image: Chris Maurice and the rest of the Yellow Card team. Image Credit: Yellow Card

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