Backed by SC Ventures and Sony, Yellow Card Raises $40M to Connect Banks to Onchain USD.
Africa-born stablecoin infrastructure provider Yellow Card has secured $40 million in strategic equity funding to accelerate its expansion into bank-grade stablecoin payments. The raise pushes its total equity funding past $120 million, with CoinDesk reporting a valuation well above its $200 million benchmark in 2022 though still under $1 billion. CEO Chris Maurice and the company declined to comment on the valuation.
Key investors in the round include SC Ventures (Standard Chartered’s venture capital arm), Sony Innovation Fund, Polychain Capital and Blockchain Capital.
Co-founded by CEO Chris Maurice and CTO Justin Poiroux, Yellow Card is collaborating with commercial banks worldwide to move U.S. dollars onchain. The effort directly challenges legacy payment rails like Swift by aiming to bypass traditional intermediaries even as Swift recently launched its own blockchain ledger pilot.
See also: Meta Unveils Autonomous AI Coding Agent to Rival OpenAI and Anthropic
The new capital will scale Yellow Card’s Global USD Accounts platform, enabling businesses to manage treasury operations, hold U.S. dollars, swap stablecoins, and transact in local currencies across domestic payment rails in over 50 countries. Next, the company plans to introduce stablecoin and local payment features across Latin America and the Asia-Pacific region.
According to Maurice, transaction flows have historically been evenly split between corporate clients and institutional banks, though growth among financial institutions is now accelerating as major players enter the market. Founded in 2016, Yellow Card reports over $10 billion in total transaction volume to date and holds active licenses or regulatory registrations across 22 jurisdictions.
