Yellow Card
Yellow Card is a B2B stablecoin and fiat payment infrastructure provider serving banks, corporates, fintechs, and crypto firms across African and global emerging markets via multi-chain wallets, fiat rails, and a payments API, following its 2026 pivot from retail crypto exchange.
- Company typePrivate
- Founded2016
- HeadquartersBirmingham, United States
- Headcount251–500
- GTM typeB2B
- OfferingSoftware
What Yellow Card does
Yellow Card is a B2B stablecoin and fiat payment infrastructure provider serving banks, corporates, fintechs, and crypto firms operating across emerging markets. Originally launched as a retail crypto on/off-ramp in Nigeria in 2019 and founded in 2016 by CEO Chris Maurice and CTO Justin Poiroux, the company announced the shutdown of its consumer mobile app effective January 1, 2026 and refocused exclusively on serving business clients with API-driven stablecoin and fiat rails.
The company's technology stack spans multi-chain stablecoin wallet infrastructure supporting 30+ blockchains (Ethereum, Polygon, Solana, Stellar, Celo, TON, Base, Aptos, Tron, Cardano) with custodial and self-custody options, complemented by fiat payment rails covering 50+ local currencies, 90+ local bank accounts, and 30+ mobile money networks. Core products are organized into Digital Asset Infrastructure, Fiat Payment Infrastructure, a Treasury Portal for multi-wallet management, an embeddable Widget, and a Payments API Suite that exposes cross-border remittance, local-currency acceptance, supplier payouts, and a USD Stablecoin Savings API. Compliance infrastructure includes CASP/VASP licenses in South Africa, Botswana, Poland (EU), Switzerland, FinCEN registration in the US, ISO 27001, SOC 1, and SOC 2 certifications, and FATF Travel Rule compliance.
Yellow Card earns revenue primarily through transaction fees on stablecoin-to-fiat conversions, B2B cross-border settlement spreads, treasury management services, and API-based stablecoin infrastructure fees, all on quote-based enterprise pricing. The company has raised approximately $88 million in disclosed equity financing across three rounds (Series A $15M in 2021 led by Valar Ventures, Series B $40M in 2022 led by Polychain Capital, Series C $33M in 2024 led by Blockchain Capital). Strategic distribution partnerships with Visa (Visa Direct), Mastercard, Ripple, Circle (Circle Payment Network), Aptos Labs, and Thunes anchor its go-to-market, with ~30,000 B2B users on platform and a 200+ employee team operating across 20+ countries with reported expansion into Southeast Asia, Latin America, and the Middle East.
Yellow Card firmographics
Firmographics- Name
- Yellow Card
- Legal name
- Yellow Card Financial Inc.
- Website
- https://yellowcard.io
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Yellow Card is a B2B stablecoin and fiat payment infrastructure provider serving banks, corporates, fintechs, and crypto firms across African and global emerging markets via multi-chain wallets, fiat rails, and a payments API, following its 2026 pivot from retail crypto exchange.
- Ownership category
- akta.pro rank
Where Yellow Card is headquartered
LocationHeadquarters
- HQ city
- Birmingham
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Yellow Card business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Transaction Fees (Conversion Spreads): Revenue generated from spreads on stablecoin-to-fiat conversions, currency exchange, and on/off-ramp transactions across 50+ currencies; pricing varies by currency pair, transaction volume, and payment method.
- Cross-Border B2B Settlement Fees: Revenue from B2B cross-border payment settlement, treasury management services, and fiat rail infrastructure usage by banks, corporates, and fintechs.
- Digital Asset Infrastructure / API Services: Revenue from custody, wallet-as-a-service, stablecoin yield on balances, and API-based stablecoin management services for enterprise clients.
- Historical Retail Transaction Fees (Discontinued): Previously earned spreads of 1-3% plus payment method fees on retail crypto exchange transactions; retail business shut down January 1, 2026.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Enterprise B2B - Quote-based, custom per client |
| Transaction based/ take rate | Pay-as-you-go | Historical retail tier (discontinued) |
Go-to-market motion1 record
Distribution channels6 records
Marketing channels9 records
Yellow Card product offering
Product offeringCore offering
Yellow Card builds B2B stablecoin-powered payment infrastructure for emerging markets, providing on/off ramps between stablecoins (USDC, USDT, RLUSD) and local fiat currencies across 30+ blockchains and 50+ currencies. Its Digital Asset Infrastructure and Fiat Payment Infrastructure are exposed programmatically through the Payments API Suite and operated day-to-day via the Treasury Portal, with strategic integrations to Visa Direct and Mastercard. As of January 2026, the company operates exclusively as a B2B infrastructure provider following the shutdown of its retail consumer mobile app.
Product overview
Yellow Card operates a unified B2B Stablecoin payments infrastructure platform for emerging markets, composed of two complementary core pillars (Digital Asset Infrastructure and Fiat Payment Infrastructure) accessed through the Payments API Suite and operated day-to-day via the Treasury Portal. The Digital Asset Infrastructure handles wallet, custody, and on-chain stablecoin movement across 30+ blockchains; the Fiat Payment Infrastructure handles local-currency acceptance and payout in 50+ currencies with USD/EUR accounts; both are exposed programmatically through the Payments API Suite (with an add-on USD Stablecoin Savings API) and via the embeddable Yellow Card Widget for end-user transactions. Compliance, licensing, and licensing registration are managed in dedicated Legal/Trust Center assets. The platform additionally produces annual data and impact reports (e.g., 2026 Data Protection & AI Governance Report, 2025 Impact Report) as insight products for compliance teams.
Differentiator
Problem solved
Functional benefit
Products and services
- Digital Asset Infrastructure Enterprise-grade Stablecoin infrastructure enabling B2B clients to send and receive Stablecoins across 30+ blockchains, create custodial and self-custody wallets and subwallets, launch custom local-currency Stablecoins, and earn yield on Stablecoin balances. Supports USDC, USDT, Tether Gold, Bitcoin, Ethereum, Solana, Stellar, Cardano, Polygon, Celo, TON, Base, and more.
- Fiat Payment Infrastructure Global fiat payments infrastructure enabling acceptance and payment in 50+ local currencies, Global USD/EUR payments across 195+ countries, virtual USD/EUR accounts with dedicated IBANs, and on/off-ramps for USDT, USDC and other Stablecoins via USD, NGN, AED, and 50+ currencies.
- Payments API Suite REST API providing end-user access to local fiat on/off-ramps, deep liquidity, and compliant treasury solutions. Enables cross-border remittances, local-currency acceptance payments, global supplier/invoice payouts, full digital wallet functionality, and the USD Stablecoin Savings API. Targets FinTechs, Banks, Corporates, Crypto firms, and TelCos.
- Treasury Portal B2B treasury management portal providing wallets (Send, Receive, Convert, Transaction Tracking, Team Controls) for managing multi-currency balances across 90+ local bank accounts and 30+ mobile money networks with Stablecoin and local fiat access. Features real-time transaction execution and rate locking for FX hedging.
Quantifiable outcome
- Reduces cross-border transaction costs by 40-80% versus traditional correspondent banking
- +7 more outcomes
Companies that use Yellow Card
Customer profileNamed customers3 records
Ideal customer profiles3 records
Yellow Card technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration22 records
AI capability6 records
Feature6 records
Yellow Card partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core, minor and flagship.
- AXG (AX Coin subsidiary)coreStrategic partnership with Nasdaq-listed AXG and Bahrain-based BENEFIT, Gulf fintech INFINIOS, and Standard Chartered to capture $250T global cross-border payments market. Covers 20+ African countries via Yellow Card infrastructure.
- Standard CharteredcoreStrategic partnership for stablecoin-issuer AXG's cross-border payments initiative; benefits from Standard Chartered banking relationships alongside Yellow Card's African infrastructure.
- Stable AllianceminorJoined the Stable Alliance to advance more efficient cross-border settlement between Africa and APAC.
- MastercardflagshipStrategic partnership announced May 2026 to develop stablecoin-powered cross-border payments across EEMEA region (Eastern Europe, Middle East, and Africa). Initial focus markets: Ghana, Kenya, Nigeria, South Africa, UAE. Four key verticals: cross-border remittances, B2B settlement, digital loyalty ecosystems, treasury management. Combines Mastercard's Crypto Credential compliance framework with Yellow Card's licensed African infrastructure.
- ThunescoreStrategic partnership to promote stablecoin adoption and improve cross-border payment efficiency in emerging markets. Addresses high transfer costs and limited banking access; supports financial inclusion using blockchain technology.
- Ripple (Absa Bank Custody)coreRipple partnered with Absa Bank for digital asset custody in South Africa as part of broader African expansion that also covers Yellow Card. RLUSD ecosystem integration.
- RippleflagshipPartnership to deploy Ripple's RLUSD stablecoin in Africa; targets currency instability and high cross-border payment costs in region. Part of broader strategy integrating Ripple's RLUSD, Ripple Payments network, and XRP Ledger with African fintech infrastructure.
- Aptos LabscoreLaunched instant gas-sponsored stablecoin transfers across 20 African countries, enabling USDT and USDC transfers with sub-second finality and zero gas fees. Targets financial inclusion by eliminating transaction costs.
- VisaflagshipStrategic partnership to expand Visa's stablecoin settlement solution into African markets; integrates Yellow Card's stablecoin cross-border infrastructure with Visa Direct. Initial pilots in Botswana, South Africa, and Zambia. Enables businesses on Visa's network to hold USD liquidity in stablecoin form to reduce FX risk.
- Circle (Circle Payment Network)flagshipFounding partner of Circle's Circle Payment Network (CPN) for stablecoin-based cross-border settlement. Inaugural rollout May 2025 alongside Flutterwave and Onafriq. CPN converts fiat to USDC stablecoins, processes via smart contracts, converts back to fiat for end users.
- CentiminorPartnership with Swiss fintech Centi to enable cheaper cross-border remittances from Europe to 20 African countries. Transfers cost as little as CHF 2 vs traditional methods' CHF 15.
Scale indicators14 records
Recent moves9 records
Expansion highlights6 records
Yellow Card competitors and assessment
Company assessmentDirect peers
- Bitnob: Bitnob is an African-focused stablecoin and B2B remittance platform offering crypto on/off ramps across Nigeria, Kenya, Ghana, and Uganda. Direct competitor with overlapping product suite (wallets, on/off ramps, business APIs) targeting the same emerging-market B2B customers.
- MoonPay: MoonPay is a global crypto on/off ramp serving 160+ countries with fiat-to-crypto purchases, NFT checkout, and Web3 authentication. Direct competitor offering the same core crypto on-ramp functionality to a global customer base with growing emerging-market presence.
- Chipper Cash: Chipper Cash is a pan-African remittance and payments platform serving cross-border payments across 20+ African countries. Direct competitor in African cross-border remittances and a Ripple RLUSD partner that intersects with Yellow Card's corridors.
- Onafriq: Onafriq (formerly MFS Africa) is a pan-African digital payments hub connecting 500+ mobile wallets and 200+ banks across 40+ African countries. Direct competitor in African payments infrastructure and a Circle Payment Network partner with overlapping target customers.
- Thunes: Thunes is a global cross-border payments network enabling real-time payments across 130+ countries with deep emerging-market reach. Direct competitor in B2B cross-border payments infrastructure and Yellow Card's announced strategic partner.
Emerging players
- Kotani Pay: Kotani Pay is an African blockchain fintech offering crypto and stablecoin on/off ramps via local mobile money in Kenya, Nigeria, and South Africa. Emerging African on/off ramp player with meaningful overlap in the same local-fiat-to-stablecoin corridor problem Yellow Card solves.
Broad incumbents
- Flutterwave: Flutterwave is a leading pan-African payments technology company enabling businesses to accept and disburse payments across 30+ African countries. Larger incumbent in African payments processing and a fellow Circle Payment Network partner competing for the same B2B enterprise customers.
- Paystack: Paystack is a Nigerian payments gateway enabling online and offline payment acceptance, owned by Stripe since 2020. Larger incumbent in African online payments and a competitor for B2B payment volume originating in Yellow Card's original launch market.
Others
- Circle: Circle is the issuer of USDC stablecoin and operator of the Circle Payment Network (CPN) for stablecoin-based cross-border settlement. Complementary partner and ecosystem enabler (Yellow Card is a CPN founding partner) rather than a direct competitor — though Circle's growing infrastructure ambitions create an adjacent ecosystem dependency.
- Tether: Tether is the issuer of USDT, the largest stablecoin by market capitalization and the most-traded stablecoin across Yellow Card's African corridors. Complementary ecosystem dependency rather than direct competitor — Yellow Card routes USDT flows across multiple supported blockchains.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Yellow Card social profiles
Digital presenceYellow Card compliance and trust
Trust signalCompliance11 records
Yellow Card financial estimates
Financial estimateRevenue estimate
Valuation estimate
Yellow Card leadership team
Management profileNumber of profiles
Profiles7 records
Yellow Card subsidiaries and ownership
Company hierarchySubsidiaries4 records
Yellow Card funding detail
Funding detailFunding overview
Funding rounds7 records
Investors26 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Yellow Card M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Yellow Card
What does Yellow Card do?
Yellow Card builds B2B stablecoin-powered payment infrastructure for emerging markets, providing on/off ramps between stablecoins (USDC, USDT, RLUSD) and local fiat currencies across 30+ blockchains and 50+ currencies. Its Digital Asset Infrastructure and Fiat Payment Infrastructure are exposed programmatically through the Payments API Suite and operated day-to-day via the Treasury Portal, with strategic integrations to Visa Direct and Mastercard. As of January 2026, the company operates exclusively as a B2B infrastructure provider following the shutdown of its retail consumer mobile app.
Is Yellow Card a public or private company?
Yellow Card is a private company. It is classified as venture growth investor backed and is currently operating.
When was Yellow Card founded?
Yellow Card was founded in 2016. It employs 251 to 500 people.
Where is Yellow Card based?
Yellow Card is headquartered in Birmingham, United States, in the North America region.
How does Yellow Card make money?
Four revenue lines are on record. Transaction Fees (Conversion Spreads) is the primary driver. The others are cross-Border B2B Settlement Fees, digital Asset Infrastructure / API Services and historical Retail Transaction Fees (Discontinued).
Who are Yellow Card's main competitors?
Direct peers on record are Bitnob, MoonPay, Chipper Cash, Onafriq and Thunes. Kotani Pay is listed as an emerging player. Broad incumbents are Flutterwave and Paystack. Others are Circle and Tether.
Does Yellow Card have an API?
Yes. Yellow Card's Payments API Suite is a B2B Stablecoin-powered infrastructure for cross-border payments and treasury management in emerging markets. It is a REST API that requires API keys/tokens for authentication, supports API call logs, and offers a sandbox environment (sandbox.api.yellowcard.io). Code samples are provided in cURL, Python, Node, and Ruby. The API enables developers to send cross-border remittances, accept local currency payments, pay global suppliers/invoices, enable full digital wallet functionality, integrate USD Stablecoin Savings, and access channels for fiat-to-stablecoin conversion across 20+ African countries. Access to API systems is secured using industry-standard cryptographic key management with mandatory MFA for the Treasury Portal. Developer documentation is at docs.yellowcard.engineering.