Yellow Card and Mastercard reveal their partnership.
Yellow Card and Mastercard have officially partnered to create a working group for scaling stablecoin solutions.
Specifically, the two companies are looking to expand their collaboration across EEMEA regions where institutions require more support with fiat conversion and stablecoin settlement, as well as new case studies.
In a press release, Founder and CEO Chris Maurice expressed:
We bring years of experience building compliant stablecoin infrastructure where traditional banking falls short. Mastercard’s global network amplifies these capabilities, allowing us to serve businesses and consumers who need better, more affordable ways to move money across borders.”
There will be a greater push to bring local stablecoin developments in Eastern Europe, Africa, the Middle East to coincide with the needs of banks and regulatory bodies.
Yellow Card has successfully scaled its stablecoin services for merchants to pay suppliers in and from Africa, and optimize their international treasury accounts. With $6B+ volumes processed to date, the company is looking to engage bigger players in developing regions.
For Mastercard, this partnership is another indication that they intend to double down on stablecoin related activity. There is a mention of integrating their Mastercard Crypto Credential, a username-based payment system built as part of a broader industry initiative.
Recently, Mastercard acquired BVNK for $1.8B to go after stablecoin infrastructure that works with major traditional payment rails.
