Yellow Card secures $40 million to expand stablecoin payment rails
The new funding will support Global USD Accounts, broader stablecoin infrastructure and expansion into Asia-Pacific and Latin America as Yellow Card’s total funding tops $120 million.
Yellow Card raised $40 million in strategic equity funding from investors including SC Ventures, Standard Chartered’s venture arm, Sony Innovation Fund, Polychain Capital and Blockchain Capital, taking its total equity financing to more than $120 million. A person close to the matter said the round valued the company significantly above the $200 million level cited in 2022, though still below $1 billion, a figure neither CEO Chris Maurice nor the company’s PR team confirmed. The company said it will use the proceeds to expand its Global USD Accounts service, add stablecoin and local payment mechanisms in Latin America and Asia-Pacific, and deepen infrastructure aimed at helping banks and businesses move dollars across borders using blockchain-based settlement. Yellow Card, founded in 2016 and focused largely on emerging markets, said it has facilitated more than $10 billion in transactions and holds licenses, authorizations or registrations in 22 jurisdictions.
- stablecoin payment rails: Payment infrastructure that uses stable-value digital tokens to move money between users, businesses or institutions.
- Global USD Accounts: Yellow Card’s business-focused product that lets companies hold dollars, use and swap stablecoins, and move funds through local payment rails.
- onchain: A term for transactions or payment flows that occur directly on a blockchain ledger rather than through traditional intermediaries.