Yellow Card targets cross-border payment hurdles with global accounts

Yellow Card, a global stablecoin infrastructure provider with operations in Nigeria, has launched a new Global Accounts service designed to help businesses operating across borders manage international payments without establishing separate banking relationships in every market.

The new offering allows businesses to open named United States dollar (USD), British pound (GBP) and euro (EUR) accounts through Yellow Card’s established banking partners and send and receive funds across international payment networks.

According to the company, businesses can access ACH, SWIFT and Fedwire payment rails, alongside local payment systems supporting more than 50 currencies across over 190 countries.

The development could be significant for businesses in emerging markets, particularly companies that increasingly need to receive payments from international customers, pay suppliers abroad or move funds between different markets.

Cross-border transactions can often involve multiple banking relationships, currency conversions, compliance requirements and payment intermediaries, increasing the time and cost involved in moving money internationally.

Yellow Card said its new infrastructure is designed to consolidate these processes on a single platform.

Businesses can manage their accounts and international money movement through Yellow Card’s application programming interface (API) or its Treasury Portal.

The company also said platforms requiring additional regulatory coverage can access managed bank account structures, allowing them to issue named accounts directly to their own customers.

Chief Executive Officer and Co-Founder of Yellow Card, Chris Maurice, said the new service was designed to remove the need for businesses to establish new banking relationships whenever they expand into another market.

“Businesses shouldn’t need a new banking relationship every time they enter a new market,” Maurice said.

According to him, the Global Accounts offering provides businesses with “one infrastructure layer” through which they can move, manage and access money across markets without rebuilding their financial operations country by country.

He described the launch as a major step towards making global money movement as simple as operating locally.

The launch builds on Yellow Card’s existing payments infrastructure, which the company said has processed more than $10 billion in transaction volume.

The company currently operates under nine active licences and registrations globally.

Yellow Card said its infrastructure enables banks, fintech companies and multinational businesses to access US dollars, manage treasury operations and move money across borders.

The company supports more than 50 currencies and counts global companies including Visa and Western Union among its customers.

For businesses operating from markets such as Nigeria, where companies increasingly engage international suppliers, customers, contractors and technology providers, easier access to multi-currency payment infrastructure could help reduce some of the operational challenges associated with international transactions.

The launch also reflects the growing role of fintech infrastructure providers in connecting businesses to global financial markets, particularly as companies expand beyond their home markets.

Yellow Card said businesses interested in its Global Accounts service can engage its team to learn more about the offering.