Visa has teamed up with Yellow Card, a pan-African stablecoin infrastructure company, to enable cross-border payments using stablecoins across countries in Central and Eastern Europe, the Middle East, and Africa (CEMEA), where Yellow Card currently operates.
The partnership will pilot the integration of stablecoins with Visa Direct, Visa’s real-time push payments platform that allows funds to be sent directly to bank accounts or payment cards. With this collaboration, businesses will be able to hold U.S. dollars in stablecoins and seamlessly transfer funds across borders, streamlining settlement and reducing friction in international transactions.
The initiative aligns with Visa’s broader strategy to modernise payment systems in the CEMEA region by incorporating blockchain-based solutions into its existing financial infrastructure. The goal is to make cross-border transfers faster, more affordable, and available 24/7—especially in emerging markets where traditional banking rails remain fragmented or costly.
Sub-Saharan Africa stands to benefit significantly from the partnership. Stablecoin adoption has surged across the region, with remittance flows averaging $500 billion per month between June 2022 and July 2024. Countries like Ethiopia have seen a 180% year-over-year increase in low-value cross-border payments thanks to stablecoins. In Nigeria, USDT has become one of the most traded currencies on crypto platforms, widely used as a hedge against local currency volatility.
“Traditional payment companies continue to question not ‘if’ they need a stablecoin strategy, but how quickly they can deploy one,” said Chris Maurice, CEO and co-founder of Yellow Card. “We are thrilled to partner with Visa to help realise the potential of stablecoins in emerging economies.”
Visa’s involvement with stablecoins dates back to 2021, when it launched a pilot with Crypto.com to settle payments using USDC. Since then, the payments giant has expanded its blockchain footprint, integrating support for networks like Solana and enabling USDC settlements for clients globally. To date, Visa has processed over $225 million in stablecoin transactions.
The timing is crucial, as global interest in stablecoins reaches new highs. In the past month alone, stablecoin transactions exceeded $4.1 trillion—surpassing Visa’s own quarterly transaction volume. Major platforms such as Shopify, Coinbase, and Stripe have started integrating stablecoin payments, while retailers like Walmart and Amazon are reportedly exploring proprietary stablecoin systems. On the continent, Nigeria’s naira-pegged cNGN stablecoin has ₦165.4 million in circulation and is already available on exchanges like Busha and Quidax.
“In 2025, we believe that every institution that moves money will need a stablecoin strategy,” said Godfrey Sullivan, Visa’s Senior Vice President and Head of Product for CEMEA. “As more players explore this new technology, Visa is ready to support them with the tools and experience they need to succeed.”