TBD and Yellow Card Power Fiat On-Ramp and Off-Ramp in 16 African Countries with BTC – Bitcoin News


TBD and the African-focused cryptocurrency exchange platform Yellow Card have recently collaborated to launch a fiat on-ramp and off-ramp that facilitates payments in some 16 African countries via Bitcoin rails. The aim of this arrangement is to make cross-border payments not only more affordable and accessible, but compliant as well.

Hedging Against Inflation With BTC

TBD, a bitcoin developer-focused entity owned by Jack Dorsey’s Block, has joined forces with the crypto exchange platform Yellow Card to create a platform that enables fiat on-ramps and off-ramps and payments in 16 African countries. According to a press release, the intent of this new development is to make cross-border payments more inexpensive and accessible, while also creating compliant pathways for remittances.

As per the April 12 press release, the Africa-focused crypto platform Yellow Card will be one of TBD’s first partners to enable users to send U.S. dollars or BTC and for recipients to receive the local currency equivalent. For people living in countries with hyperinflation, the platform may be used as a location to store BTC or stablecoins.

Commenting on his company’s partnership with TBD, Chris Maurice, the co-founder and CEO of Yellow Card, said:

We’re delighted to work with TBD and the Block team on tbDEX and their global payments initiatives. The international payments space, particularly in Africa, is in desperate need of the innovative solutions we are building together, and this is the realization of the vision behind Block’s initial investment in Yellow Card in 2021.

Emily Chiu, the co-founder and COO of TBD, discussed her organization’s mission of advancing Block’s empowerment via “breaking down the barriers to financial access across the Global South.” Chiu added that Yellow Card’s focus on Africa makes it the ideal partner to help TBD realize its objectives.

Sign up for our email list here to get a weekly update on African news delivered to your inbox:

What are your thoughts on this story? Let us know in the comments section below.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic woes of some African countries and how digital currencies can provide Africans with an escape route.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Recent articles