Mastercard and Yellow Card Boost Stablecoin Payments in Africa

Mastercard and Yellow Card have announced a strategic partnership to advance stablecoin payments in emerging markets, particularly focusing on Nigeria, Ghana, Kenya, South Africa, and the United Arab Emirates. The partnership aims to develop compliant applications for stablecoin payments across four key verticals: cross-border remittances, B2B settlements, digital loyalty ecosystems, and treasury management.

Lasberi Oludimu, Vice President and Managing Director of Yellow Card Nigeria, emphasized the opportunity to improve value transfer across borders, especially in remittances and B2B settlements. The collaboration will involve working with banks, financial institutions, and regulatory stakeholders to pilot solutions designed to enhance payment efficiency, reduce settlement friction, and lower costs for businesses and consumers.

This partnership comes at a time of increasing institutional interest in stablecoins, particularly for cross-border payments, as businesses and consumers in Africa face high remittance costs and fragmented payment infrastructures.