Visa, Yellow Card Partner to Boost Cross-Border Stablecoin Transactions in Africa

Visa Inc. (NYSE:V) is one of the best Fortune 500 stocks to buy according to billionaires. On June 20, Visa announced a strategic partnership with Yellow Card. The collaboration aims to use stablecoin technology to enhance cross-border transactions, specifically focusing on streamlining treasury operations and improving liquidity management.

The partnership will enable USD transactions across borders using blockchain technology, with reduced settlement costs and the ability for continuous settlements, including on weekends and holidays. Visa has already facilitated over $225 million in stablecoin transactions through its network among participating clients.

The collaboration will explore new stablecoin use cases in the 20+ African countries where Yellow Card operates to integrate these solutions with Visa Direct. Last month, Visa also invested in BVNK, which is a stablecoin payments firm based in South Africa. The partnership with Yellow Card is expected to accelerate stablecoin adoption in regions where access to traditional financial services is limited and local currency volatility is a concern.

Visa Inc. (NYSE:V) is a payment technology company that offers credit, debit, and prepaid card products. Yellow Card is an African fintech company that specializes in stablecoin payments.

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Disclosure: None. This article is originally published at Insider Monkey.