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Investing.com -- Yellow (OTC:YELLQ) Card Financial Inc. and Visa Inc . (NYSE:V) have signed an agreement to promote stablecoin use for cross-border payments in emerging markets where the cryptocurrency exchange operates, Bloomberg reports.
The partnership will explore ways to streamline treasury operations, improve liquidity management, and enable faster and cheaper transfers, according to Yellow Card co-founder and Chief Executive Officer Chris Maurice.
"Visa sells virtually to every bank in the world, so it opens up opportunities to work with the broader financial institutions that can benefit from the technology the most," Maurice said in an interview with Bloomberg.
Maurice noted that stablecoins are generating significant market interest, with major payment companies exploring entry into the space. "When you look at stablecoins, there’s a lot of excitement in the market and all the major payment companies are exploring ways to get into the space," he said.
Yellow Card plans to launch stablecoin transactions with Visa in at least one African market in 2025, with additional markets to follow. The cryptocurrency exchange aims to leverage this partnership to expand the adoption of digital currency solutions across the continent.
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