TLDR
- Mastercard and Yellow Card formed a stablecoin payments partnership for EEMEA.
- The partnership targets remittances, B2B settlement, loyalty and treasury use.
- Initial markets include Ghana, Kenya, Nigeria, South Africa and the UAE.
- Mastercard’s Crypto Credential will support security and compliance checks.
- Yellow Card is a licensed stablecoin infrastructure provider focused on Africa.
Mastercard has announced a strategic partnership with Yellow Card to support stablecoin-enabled payment services across Eastern Europe, the Middle East and Africa, with plans to explore wider global use over time.
Yellow Card is a licensed stablecoin infrastructure provider operating mainly across Africa, with additional capabilities in selected emerging markets. The partnership will focus on practical payment use cases where stablecoins may support faster settlement, lower costs and broader access for businesses and consumers.
The companies said the collaboration will begin with four main areas: cross-border remittances, business-to-business settlement, digital loyalty systems and treasury management. The initial focus markets are Ghana, Kenya, Nigeria, South Africa and the United Arab Emirates.
Mastercard and Yellow Card plan to work with banks, financial institutions and regulators to test compliant stablecoin payment systems. The companies will also create joint working groups to identify use cases and develop interoperable solutions for financial institutions connected to Mastercard’s network.
Stablecoin Payments Target Remittances and B2B Settlement
The partnership comes as stablecoins gain more attention in emerging markets, where cross-border payments can be costly, slow or dependent on multiple intermediaries. Stablecoins are digital tokens designed to maintain a stable value, often by being linked to fiat currencies such as the U.S. dollar.
Mastercard and Yellow Card said stablecoins may be useful in remittances, where users often send money across borders to family members or business partners. In parts of Africa and the Middle East, remittance costs remain a key issue for consumers and small businesses.
The companies will also test stablecoin use in B2B settlement. This could include payments between exporters, suppliers, merchants and regional businesses that need faster access to funds across different markets and currencies.
Treasury management is another focus area. Businesses that operate across several countries often manage currency conversion, liquidity and settlement timing. Stablecoins may provide another tool for moving value between entities, subject to local rules and banking requirements.
Digital loyalty ecosystems are also included in the plan. Mastercard and Yellow Card will examine how token-based systems can support rewards, customer engagement and payment-linked loyalty services.
Mastercard Expands Blockchain Payment Network
The Yellow Card agreement builds on Mastercard’s wider digital asset strategy. The company has been developing blockchain-based payment tools aimed at linking tokenized assets, stablecoins and traditional financial systems.
Mastercard’s Crypto Credential framework is expected to support security and compliance functions in stablecoin transactions. The framework is designed to verify users and businesses involved in blockchain transfers, helping financial institutions meet regulatory and risk management standards.
The company has also been expanding its Multi-Token Network, known as MTN. The network was recently used in a pilot with JPMorgan, Ripple and Ondo Finance for near real-time cross-border settlement tied to tokenized U.S. Treasuries.
In that test, the XRP Ledger was used for the tokenized asset transfer, while fiat settlement instructions were routed through Mastercard’s Multi-Token Network and JPMorgan’s Kinexys platform. The pilot showed how blockchain activity can connect with banking rails outside normal banking hours.
Mastercard has also worked with other digital asset companies, including Rain, MoonPay and Fiserv. Rain recently became a Mastercard Principal Member, allowing it to issue credit and prepaid cards directly on the Mastercard network for stablecoin-powered programs.
Yellow Card Brings African Market Experience
Yellow Card brings regional experience from African markets where stablecoins are already used for payments, savings, trade and transfers. The company has built stablecoin infrastructure in markets where traditional banking access can vary widely.
Chris Maurice, chief executive of Yellow Card, said emerging markets offer major opportunities for payment innovation, but require local knowledge and regulatory experience. He said Yellow Card’s infrastructure has been built in areas where traditional banking services do not always meet user needs.
Mete Güney, Mastercard’s executive vice president for market development in EEMEA, said stablecoins are a useful option for some payment cases. He said the partnership with Yellow Card will focus on secure and practical uses in cross-border trade, B2B settlement and digital asset security.
The collaboration will depend on regulatory approval and local market conditions. Stablecoin rules differ across countries, and financial institutions must meet requirements tied to customer verification, transaction monitoring, reserve quality and consumer protection.
The partnership places Africa and the Middle East among the first regions for Mastercard and Yellow Card’s joint work. Ghana, Kenya, Nigeria, South Africa and the UAE are expected to serve as early markets for testing stablecoin payment models with banks and financial institutions.
