Yellow Card raised $40 million in strategic equity funding to expand its stablecoin payment infrastructure for banks and businesses. The company plans to grow its Global USD Accounts product and add stablecoin and local payment options in Latin America and Asia-Pacific.
Yellow Card raised $40 million in strategic equity funding to expand its stablecoin payment infrastructure for banks and businesses. The company plans to grow its Global USD Accounts product and add stablecoin and local payment options in Latin America and Asia-Pacific.
Yellow Card has raised $40 million in strategic equity funding to expand its stablecoin payment infrastructure, according to CoinDesk. The round included SC Ventures, Standard Chartered’s venture arm, Sony Innovation Fund, Polychain Capital and Blockchain Capital, bringing the company’s total equity financing to more than $120 million.
Yellow Card has raised $40 million in strategic equity funding to expand its stablecoin payment infrastructure, according to CoinDesk. The round included SC Ventures, Standard Chartered’s venture arm, Sony Innovation Fund, Polychain Capital and Blockchain Capital, bringing the company’s total equity financing to more than $120 million.
The funding matters because Yellow Card is positioning stablecoins as part of the plumbing for cross-border dollar payments, particularly for commercial banks and businesses operating across multiple markets. The company says it is working with banks globally to use stablecoins and on-chain payment rails as an alternative to legacy payment systems.
CoinDesk reported that Yellow Card’s valuation is significantly above the $200 million level it reached in 2022, but below $1 billion, citing a person close to the matter. The company’s CEO, Chris Maurice, and its PR team did not confirm the valuation.
Yellow Card plans to use the new capital to expand Global USD Accounts, its dollar account product for businesses. The product lets companies hold dollars, hold and swap stablecoins, manage treasury operations, and collect or disburse local currencies through domestic payment rails in more than 50 countries, the company said.
Founded in 2016, Yellow Card started in Africa and has focused heavily on emerging markets, where payment and regulatory systems can vary significantly by country. The firm says it has facilitated more than $10 billion in transactions and holds licenses, authorizations or registrations in 22 jurisdictions.
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