Yellow Card Raises US$40mn for Global Expansion, Stablecoins Push

Yellow Card, a Pan-African crypto startup, has raised US$40 million in a strategic funding round to expand its stablecoin payments infrastructure beyond Africa, betting that demand for blockchain-based cross-border settlement will continue to grow among businesses and financial institutions.

• The financing was backed by SC Ventures, the innovation and investment arm of Standard Chartered, Sony Innovation Fund, Polychain Capital, Blockchain Capital and other strategic investors. 
• The latest round, which brings the company's total equity financing to more than US$120 million, will be used to scale Yellow Card's Global USD Accounts, a product that combines U.S. dollar accounts, stablecoin settlement and local currency payment capabilities into a single platform for businesses operating across multiple markets. 
• The company also plans to expand the payment rails and currency coverage underpinning the service as it grows in Latin America and the Asia-Pacific region.

“This investment is a vote of confidence in what we've spent years building: the infrastructure that lets global businesses move money without a traditional correspondent banking. But the bigger opportunity now is connecting banks themselves to stablecoin rails,” said Chris Maurice, CEO and Co-Founder of Yellow Card.

The fundraising marks another step in Yellow Card's evolution from a cryptocurrency trading platform into a provider of financial infrastructure, as companies increasingly seek alternatives to the correspondent banking networks that have traditionally handled cross-border payments. Stablecoins, which are digital tokens typically pegged to the traditional currencies, have emerged as one such alternative, allowing businesses to move funds across jurisdictions with fewer intermediaries.

“Stablecoins are here to stay, but their adoption will depend on robust infrastructure and clear real-world utility. Yellow Card is building those rails for businesses across Africa, enabling them to access and move value efficiently across markets,” said Alex Manson, CEO of SC Ventures.

Yellow Card said its infrastructure currently supports more than 50 currencies and operates across more than 50 countries. The company holds licenses, registrations or other regulatory authorizations in 22 jurisdictions spanning Africa, Europe and North America.

The company said it has processed more than US$10 billion in transactions across its network. It also counts Visa and Western Union among customers using its Global USD Accounts and maintains partnerships with Visa, Mastercard, PayPal and Coinbase as part of its payments infrastructure.

The investment reflects growing competition among fintechs that are now building infrastructure around stablecoins rather than consumer-facing cryptocurrency services. As regulatory frameworks gradually emerge across multiple jurisdictions, including Kenya, providers are positioning themselves to connect banks, payment companies, and multinational businesses to digital dollar settlement networks.