African Businesses Turning To Stablecoins For Faster Payments, Treasury Management – Expert

The group vice president of operations and managing director of Yellow Card Nigeria, Lasbery Oludimu, has said African companies are adopting stablecoins not as a crypto trade, but as infrastructure to solve payment and treasury challenges

Speaking at a media briefing in Lagos, Oludimu emphasised the growing recognition of stablecoins as more than just crypto products.

“They are becoming foundational infrastructure for businesses seeking efficient methods to manage funds, streamline payments, and engage in global commerce,” she stated.

She also announced a significant milestone for the organization, a $40 million strategic funding round that brings Yellow Card’s total equity financing to over $120 million.

“This funding will enhance our Global USD Accounts, our comprehensive dollar account solution for businesses, while also expanding the stablecoin infrastructure connecting us to global markets, particularly in Latin America and Asia-Pacific,” she explained.

Oludimu elaborated on the company’s commitment to developing the necessary infrastructure, regulatory frameworks, and partnerships to reliably and compliantly connect businesses across various markets, stating that “Africa is a central focus in our strategy, even as we look to expand our global presence.”

Addressing the challenges faced by many Nigerian businesses, Oludimu recognised that access to foreign exchange and international payment solutions has been a significant barrier to trade and growth.

In response, she mentioned the company’s recent regulatory advancements, notably securing an anti-money laundering (AML) affiliation in Switzerland as a supervised financial intermediary, saying that this achievement provides banking partners and institutional clients with a regulated access point to the company’s infrastructure across Africa and beyond.

“There are many exciting developments at Yellow Card, all rooted in our long-term vision. While Africa is central to our mission, we believe there are substantial opportunities for stablecoins in markets where businesses still face real challenges with money movement, currency access, and effective participation in international commerce,” Oludimu affirmed.

She reiterated that stablecoins are shifting from mere speculation to becoming valuable tools for treasury management and commerce, stating, “our focus is on responsibly building this infrastructure to ensure that African businesses are integral to this evolution.”

Yellow Card remains dedicated to expanding its regulatory footprint, enhancing payment corridors, and forming institutional partnerships as it constructs a robust infrastructure connecting businesses worldwide.