Edited By Charles Muchoki | Africa Guardian
Fireblocks, a leading provider of digital asset infrastructure, has announced its collaboration with Yellow Card, a major stablecoin on/off ramp in Africa. This partnership aims to simplify and enhance cross-border cryptocurrency transactions across the continent. The announcement, made on X, highlights the ambitious plan to expand to 14 million wallets through Fireblocks’ Wallet-as-a-Service (WaaS).
Through this partnership, Yellow Card will leverage Fireblocks’ advanced digital asset architecture to facilitate stablecoin transactions in Africa. The collaboration seeks to resolve the challenges multinational companies face when expanding into Africa by providing secure and reliable on-chain services.
According to Fireblocks’ blog post, the partnership involves utilizing Fireblocks’ WaaS for MPC, which supports the creation, management, and protection of up to 14 million wallets. This technology not only enhances asset security but also simplifies transactions, marking a significant advancement for both Yellow Card and Fireblocks in their mission to improve cross-border crypto transactions.
Fireblocks and Yellow Card to Strengthen Cross-Border Transactions in 20 African Countries
Ran Goldi, Senior Vice President of Payments and Network at Fireblocks, pointed out that Africa is witnessing a shift from traditional payment methods to technology-driven alternatives, with $100 billion in remittances flowing into the continent. However, cross-border payments remain costly, especially for low-value transactions. Goldi expressed excitement about partnering with Yellow Card to provide secure digital asset solutions.
Chris Maurice, CEO and co-founder of Yellow Card, shared his enthusiasm for the partnership, stating that they are eager to collaborate with Fireblocks to bring practical stablecoin applications to life. This partnership aims to address inefficiencies in international transactions and improve business treasury management in Africa.
Yellow Card, active in 20 African countries, plays a crucial role in helping organizations manage FX risk through stablecoins like USDT, USDC, and PYUSD. The partnership with Fireblocks is expected to revolutionize financial operations within and across borders in Africa.
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