Yellow Card, a Pan-African fintech company company that focuses on cryptocurrency transactions and financial services, has partnered with digital asset infrastructure provider Fireblocks, to enhance cross-border transactions for businesses and individuals across Africa.
With this partnership, Yellow Card is leveraging Fireblocks technology to overcome challenges faced by global corporate treasuries when entering African markets. By utilizing Fireblocks’ Wallets-as-a-Service (WaaS) platform, Yellow Card can efficiently create, manage, and secure up to 14 million multi-party computation (MPC) wallets. This ensures that customers assets are protected at scale, providing a secure and effective on-chain solution that facilitates seamless access to the African financial landscape.
Commenting on the partnership CEO and Co-founder of Yellow Card Chris Maurice said,
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“We are excited to work with Fireblocks to enable real-world use cases for stablecoins, solving the complex challenges of international and pan-African transactions. Together, we enhance how businesses around the world manage their treasury, make payments and drive innovation across Africa”.
Also speaking on the partnership, Ran Goldi, SVP payments and Network at Fireblocks said,
“Africa, like the rest of the world, is witnessing a significant transition from traditional payment systems to alternative digital payments, driven by emerging technologies. With $100 billion in remittances flowing into the continent, the shift is clear. However, the challenge of high costs in cross-border transactions remains, particularly for low-value payments, which often incur hefty fees. We are thrilled to partner with Yellow Card to provide our direct custody Wallets-as-a-Service (WaaS) solution, enabling them to securely manage their customers’ digital assets at scale.”
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. The platform enables exchanges, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through patent-pending SGX & MPC technology.
Also, it is committed to serving clients through partnering with the most sophisticated and innovative teams. From industry-leading technology providers to the newest innovators/advances in DeFi, Fireblocks is actively seeking partners that will empower more companies to build and scale their digital asset businesses. The company has partnered with great companies such as coincover, Chainalysis, Azure, AAVE, EIGER, Kiln and Temenos, amongst others.
Together, with Yellow Card, both companies will tackle the complex challenges faced by multinational corporate treasuries such as regulatory compliance, currency volatility, and inefficient legacy banking systems.
Notably, this strategic partnership, marks a pivotal moment for both companies as they pave the way for more streamlined and secure financial operations across Africa. With a shared vision of innovation and excellence, Yellow Card and Fireblocks have a common goal of transforming cross-border transactions by introducing new benefits to businesses and the economy through innovation and excellence.