Yellow Card raises $40 million to link banks to stablecoin processing
Yellow Card has raised $40 million in a new funding round to expand its stablecoin-based payment infrastructure for banks and businesses globally. The company aims to replace legacy systems like Swift by enabling direct, on-chain dollar payments across emerging markets in Africa, Latin America, and Asia-Pacific.
Why it matters
This funding highlights the growing institutional adoption of stablecoins as a viable alternative to traditional interbank messaging systems for cross-border treasury and payment operations.
The round included SC Ventures, Standard Chartered’s venture arm, Sony Innovation Fund, Polychain Capital and Blockchain Capital. It brings Yellow Card’s total equity financing to more than $120 million at a valuation significantly higher than the $200 million it rated in 2022, but not yet $1 billion, one person close to the matter told CoinDesk.
Neither Yellow Card CEO Chris Maurice nor the U.S.-based company's PR team confirmed the valuation.
Maurice, who co-founded the firm, said the company is working with commercial banks globally to use stablecoins to bring more dollars into markets and replace legacy payment systems.
“The very near future state for this industry is one where payments flow directly between banks onchain, without B2B payments companies or other payment service companies in the flow at all,” Maurice said over Telegram.
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