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Yellow Card has expanded its operations into Canada through its wholly owned subsidiary, Alkepay Inc.
The company said the expansion would strengthen its cross-border payment infrastructure and extend its presence in North America.
According to a statement, Alkepay is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Services Business and with the Bank of Canada as a payment service provider under the Retail Payments Activities Act.
Through Alkepay, Yellow Card will provide foreign exchange dealing and cross-border funds transfer services to clients in Canada.
Chris Maurice, Chief Executive Officer and Co-Founder of Yellow Card, said the company’s experience working with global financial and payment companies would support its expansion into the Canadian market.
“For many years, Yellow Card has solidified its reputation as a trusted stablecoin company, partnering with the likes of Visa, Mastercard, Western Union, Thunes, and MoneyGram to move money for institutions and businesses around the world,” Maurice said.
“That trust is what we’re built on, and it’s what we’re bringing with us as we expand our world-class infrastructure further into North America.”
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Vice President of Global Operations at Yellow Card, Lasbery Chioma Oludimu, said the Canadian expansion followed months of work involving banking partnerships, settlement processes and local regulatory requirements.
“Every new market is months of work before it ever becomes a headline, connecting banking partners, testing settlement, and getting the local details right. Canada is no different, and now that it’s live, our clients get the same reliability and speed we bring to cross-border payments in our other markets,” she said.
The Canadian expansion comes as Yellow Card broadens its operations beyond its traditional African markets.
The company said it had recently made strategic hires in Latin America and Southeast Asia as part of efforts to establish a broader global presence.
Earlier this year, Yellow Card also announced the affiliation of its Swiss virtual asset service provider, StaaS Fintech Services SA, with SO-FIT, a FINMA-recognised self-regulatory organisation.
The company said the move provided institutional and corporate clients with a supervised entry point into its infrastructure.
Yellow Card said the global stablecoin market recorded more than $33 trillion in annual transaction volume in 2025, while industry estimates project the market’s total capitalisation could exceed $2 trillion by the end of 2028.
The company said it has processed more than $10 billion in transaction volume and has more than 65 active banking partners, with its USD wire and stablecoin infrastructure reaching more than 190 countries.
Yellow Card provides infrastructure that enables banks, fintech companies and multinational businesses to access US dollars, manage treasury operations and facilitate cross-border payments.
The company said its platform supports more than 50 currencies and counts global companies, including Visa and Western Union, among its customers.
