Yellow Card raises $40M to link banks to stablecoin processing

Yellow Card will use the new capital to expand Global USD Accounts, its dollar account product for businesses, and add stablecoin and local payment mechanisms in Latin America and Asia-Pacific. The accounts allow businesses to 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.

Maurice said the company's flows have historically been split roughly evenly between corporates and large financial institutions using its treasury-management and payments infrastructure. Bank volumes are now growing faster as large institutions adopt the system, he said.

Yellow Card kicked off its operations in Africa, building across fragmented country-by-country regulatory jurisdictions. Since its founding in 2016, the firm said it has facilitated more than $10 billion in transactions and holds licenses, authorizations or registrations in 22 jurisdictions.

Neither Maurice nor the U.S.-based company's PR team confirmed the valuation.