Stablecoin payments infrastructure provider Yellow Card has secured $40 million in a strategic funding round to accelerate its international expansion and scale its Global USD Accounts platform for businesses.
The funding round attracted investments from SC Ventures, the innovation and investment arm of Standard Chartered, Sony Innovation Fund, Polychain Capital, Blockchain Capital, and other strategic investors. This latest cash injection brings Yellow Card’s total funding to more than $120 million, following a $33 million Series C funding round closed two years ago, which was led by Blockchain Capital.
Global Expansion and USD Accounts
The company said the fresh capital will be used to expand its Global USD Accounts, an end-to-end dollar account solution. This service enables businesses to hold U.S. dollars, manage treasury, swap stablecoins, and send or receive local currencies across more than 50 countries.
Yellow Card plans to strengthen its presence in Latin America and the Asia Pacific region while expanding its payment rails and currency coverage globally. The investment from Sony Innovation Fund indicates growing institutional interest in stablecoins for cross-border payments.
Austin Noronha, Managing Director at Sony Ventures US, said Yellow Card is positioning itself as a bridge between traditional financial systems and digital money as it expands into emerging markets beyond Africa.
Connecting Banks to Stablecoin Rails
Yellow Card’s Chief Executive Officer and Co-Founder, Chris Maurice, said the funding validates years of investment in payment infrastructure that reduces reliance on traditional correspondent banking.
He noted that the company’s next phase of growth will focus on connecting banks directly to stablecoin payment rails to improve access to dollar-based financial services.
Alex Manson, Chief Executive Officer of SC Ventures, expressed confidence in Yellow Card’s role in building the infrastructure needed for stablecoin adoption across emerging markets. Manson stated that stablecoins are here to stay, but their adoption will depend on robust infrastructure and clear real-world utility.
Nigerian Regulatory and Tax Environment
Yellow Card is currently one of the digital asset firms seeking licensing in Nigeria under the Accelerated Regulatory Incubation Programme (ARIP) of the Securities and Exchange Commission (SEC).
Lasbery Oludimu, VP of Global Operations and MD at Yellow Card Nigeria, confirmed that the company has submitted its application to the regulatory body. She noted that ARIP provides a structured pathway for crypto businesses to operate within a regulated framework, propelling Nigeria to the forefront of global regulatory standards.
This development comes as the Nigerian government introduces new Guidelines on the Taxation of Virtual Assets. Under these guidelines, virtual asset service providers and other participants in the digital asset ecosystem face a 30% income tax on their operations.
