Yellow Card, Africa’s premier stablecoin on/off ramp, has announced partnering with Fireblocks, a digital asset infrastructure provider, to facilitate cross-border transactions for companies and people.
Fireblocks simplifies the development of new blockchain-based businesses and the management of daily digital asset operations, successfully transferring over $6 trillion in digital assets. This partnership will address the numerous difficulties that global company treasuries confront, including regulatory compliance, currency volatility, and inefficient legacy banking systems.
This involves making use of Fireblocks’ Wallets as a Service (WaaS), which permits Yellow Card to protect client assets while creating, managing, and scaling up to 14 million multi-party computation (MPC) wallets.
“We’re excited to work with Fireblocks to enable real-world use cases for stablecoins, solving the complex challenges of international and pan-African transactions,” said Chris Maurice, CEO and co-founder of Yellow Card. “Together, we enhance how businesses around the world manage their treasury, make payments, and drive innovation across Africa.”
“Much like the rest of the world, Africa has seen a transformative shift from traditional payment methods to alternative payments, driven by new technologies, with $100 billion worth of remittances flowing into the continent. However, cross-border payments are still encumbered by high costs, with low-value cross-border payments incurring steep fees,” said Ran Goldi, SVP Payments and Network at Fireblocks. “We are delighted to be working with Yellow Card to provide our direct custody wallets-as-a-service (WaaS), allowing them to secure their customers’ digital assets at scale.”
Yellow Card, which operates in 20 African nations, is at the forefront of assisting organizations in managing foreign currency (FX) risk via stablecoin transactions. The company uses USDT, USDC, and PYUSD to assist businesses in managing their treasury and associated transactions within and outside of the continent.
This is a watershed moment for both firms, as it paves the way for more efficient and secure financial operations throughout Africa. Yellow Card and Fireblocks share a vision of innovation and quality, and their mutual objective is to improve cross-border transactions by delivering new benefits to companies and the economy.The post Cross-Border Payments Made Easy with Yellow Card & Fireblocks first appeared on IT News Africa | Business Technology, Telecoms and Startup News.