Yellow Card, the largest and only licensed stablecoin on/off ramp on the African continent, is set to introduce USDC, a digital stablecoin on the Stellar network, an open-source decentralised blockchain network, revolutionising cross-border payments, remittances, and treasury management globally.
The initiative is coming as Africa slowly inches towards widespread adoption of digital assets, thereby becoming imperative that exchanges provide more cost-effective ways for buying, selling, receiving, and sending other digital assets.
Among these assets, stablecoins have emerged as the preferred option for people seeking to invest, send remittances, and make cross-border payments based on the fact that stablecoins are tied to the value of the dollar, which protects against inflation and eliminates the fear of volatility that is seen with other digital assets.
A news report from African Press Organisation (APO) Group distributed on behalf of Yellow Card Financial that Yellow Card was set to elevate user experience by integrating USDC on the Stellar network.
According to the news report, the integration combines the robust features of the Stellar network, such as low transaction fees and lightning-fast transactions with the rapid growth of one of the world’s fastest-growing digital currencies, USDC, offering users a seamless, near-instant, and cost-effective solution for various financial transactions. With this integration, users on the Yellow Card app can now send USDC on the Stellar network.
Described as a game-changing convenience for Yellow Card users, experts believe that with USDC on Stellar, Yellow Card users gain access to expedited transactions, enhancing the convenience and utility of their digital currency dealings.
This is even as they noted that the partnership marked a significant milestone in the digital assets and blockchain industry, with the potential to reshape global payments and drive widespread digital currency adoption.
Speaking on the innovative solution for cross-border digital transactions and partnership with the USDC, Yellow Card’s CEO, Chris Maurice, expressed excitement about the integration, saying that his company, was “thrilled to bring USDC on Stellar to our users. This is a giant leap forward for global payments, making it easier, faster, and more affordable for people around the world to access and utilise digital dollars.”
The Stellar blockchain, tailored for everyday financial products and services, boasts speed, scalability, and sustainability and its emphasis on optimising payments ensures low fees and transaction speeds that scale with increased adoption.
