Yellow Card, a company that helps banks process stablecoin transactions, has raised $40 million in new funding. The round brings the firm's total financing to more than $120 million since it was founded 10 years ago.
What the money is for
The capital will go toward building infrastructure that connects traditional banking systems to stablecoin networks. Stablecoins are cryptocurrencies pegged to assets like the US dollar, and banks are increasingly looking to use them for faster, cheaper payments. But integrating these digital assets into existing banking rails requires specialized technology and compliance tools. Yellow Card aims to provide that bridge.
A decade of building
Yellow Card was founded in 2015. Over the past ten years, it has raised over $120 million in total. The latest $40 million round marks a significant milestone for the company, which has focused on the African market but is now expanding globally. The company processes stablecoin transactions for banks and other financial institutions, handling everything from settlement to regulatory reporting.
Stablecoins gain traction with banks
Banks around the world are experimenting with stablecoins. JPMorgan has its own JPM Coin, and other institutions are exploring similar projects. But many banks lack the infrastructure to issue or process stablecoins at scale. Yellow Card's platform aims to fill that gap, offering a turnkey solution for banks to offer stablecoin services to their customers.
The company did not disclose the investors in this round or the valuation. Yellow Card plans to use the funds to expand its team and accelerate product development.
