Overview
- Mastercard and Yellow Card announced the partnership Thursday to plan pilots across Eastern Europe, the Middle East and Africa and to set up joint working groups with banks.
- The work targets remittances, B2B settlement, loyalty rewards, and treasury using stablecoins that track a currency like the U.S. dollar to speed transfers and cut fees.
- Early testing will focus on Ghana, Kenya, Nigeria, South Africa, and the United Arab Emirates.
- Mastercard will use its Crypto Credential system to verify participants and run KYC and AML checks on blockchain payments.
- Launch timelines hinge on regulatory clearance in each market, with Yellow Card’s licensed network in 20 African countries positioned to lower costs for families and small firms.