Fireblocks has launched support for Yellow Card, Africa’s leading stablecoin on/off ramp, to improve cross-border transactions for both businesses and individuals. By integrating the Fireblocks digital asset infrastructure, Yellow Card seeks to remove obstacles for global corporate treasury in accessing African markets by offering secure and effective on-chain solutions.

This includes leveraging Fireblocks’ Wallets-as-a-Service (WaaS), which enables Yellow Card to create, manage, and secure up to 14 million multi-party computation (MPC) wallets at scale and safeguard customer assets. This marks a step forward for Yellow Card and Fireblocks in their common goal of transforming cross-border transactions.

“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.”

Together, Yellow Card and Fireblocks will tackle the complex challenges faced by multinational corporate treasuries such as regulatory compliance, currency volatility, and inefficient legacy banking systems. This marks a pivotal moment for both companies as they pave the way for more streamlined and secure financial operations across Africa.

Yellow Card has a presence in 20 African countries and is at the forefront of assisting organizations in handling foreign exchange (FX) risk through stablecoin transactions. By utilizing USDT, USDC, and PYUSD, the company helps businesses manage their treasury and related transactions within and beyond the continent.