Alchemy Pay has announced a new partnership with Yellow Card, a fintech company with operations in 20 African countries.
According to a company release, the partnership with global fiat and cryptocurrency payment gateway and Yellow Card will make it easier for Africans to access cryptocurrencies using familiar payment methods such as bank transfers and mobile money. The purpose is to provide access.
This partnership will make it easier for people in countries such as South Africa, Rwanda, and Uganda to purchase cryptocurrencies using their local currencies.
Earlier this month, Alchemy Pay integrated Samsung Pay into its virtual card service, making it easier for users around the world to pay with cryptocurrencies. This extends existing options such as Google Pay to enable seamless transactions in-store and online.
Partnership details
Alchemy Pay’s main “on-ramp” product helps users convert traditional currencies to cryptocurrencies. By working with Yellow Card, Alchemy Pay can now leverage Yellow Card’s payments infrastructure, which processes over $3 billion in transactions and supports a variety of local payment options.
Through this partnership, Alchemy Pay and Yellow Card will simplify crypto purchases and decentralized finance participation for users in Africa, potentially opening new financial opportunities to millions of people.
Yellowcard Chief of Staff Gillian Darko highlighted that the partnership will help drive financial growth in Africa by facilitating access to cryptocurrencies and stablecoins.
“We are opening more doors for seamless access to stablecoins and decentralized finance in Africa, driving innovation and creating new opportunities for millions of people.” said Jillian Darko, chief of staff and director of strategy.
gillian darko
In June, Alchemy Pay expanded its services by integrating with Scroll, a layer 2 Ethereum scaling solution. The partnership enabled users to access Tether (USDT) and USD Coin (USDC) through Alchemy Pay’s platform, supporting over 50 fiat currencies in 173 countries.
