Visa has announced a strategic partnership with Yellow Card to expand stablecoin services across Central and Eastern Europe, the Middle East, and Africa.
Strategic Collaboration and Goals
Visa announced a partnership with Yellow Card aimed at enhancing stablecoin services in CEMEA. The main goal of this collaboration is to optimize liquidity and fund management for businesses and individuals in the region.
Cost Reduction and Market Impact
This initiative is expected to reduce transaction costs for cross-border payments by up to 80%. This will be achieved through USD stablecoins. Chris Maurice, CEO of Yellow Card, noted that all major payment companies are exploring ways to enter this space.
Financial Inclusion and Expectations in CEMEA
The collaboration between Visa and Yellow Card is set to significantly cut remittance costs. It is also expected that by 2025, financial institutions will require comprehensive stablecoin strategies. Chris Maurice emphasized that the industry is moving towards such technological innovations.
The alliance between Visa and Yellow Card could bolster the acceptance of stablecoins, enhancing transaction efficiency and promoting financial inclusion in emerging markets.
