Alchemy Pay has announced a new partnership with Yellow Card, a fintech company operating across 20 African countries.
The partnership between the global fiat-crypto payment gateway and Yellow Card aims to make it easier for people in Africa to access cryptocurrency by using familiar payment methods like bank transfers and mobile money, according to a company release.
This collaboration will help people in countries like South Africa, Rwanda, Uganda, and others use their local currencies to buy crypto more easily.
Earlier this month, Alchemy Pay integrated Samsung Pay into its Virtual Card service, allowing global users to make cryptocurrency payments more easily. This expands their existing options, including Google Pay, for seamless transactions in-store and online.
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Partnership details
Alchemy Pay’s main “on-ramp” product helps users convert traditional currencies into crypto. By working with Yellow Card, Alchemy Pay can now tap into Yellow Card’s payment infrastructure, which processes over $3 billion in transactions and supports various local payment options.
Through this partnership, Alchemy Pay and Yellow Card are simplifying the purchase of cryptocurrency and participation in decentralized finance for African users, which could open new financial opportunities for millions.
🌍#Alchemy Pay is teaming up with @yellowcard_app to bring seamless crypto access to Africa!
This partnership enables African users to buy crypto with local currencies via bank transfers and mobile money, boosting financial inclusion in the region.https://t.co/E5ypYbLnGY$ACH pic.twitter.com/45GPH7ariM— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) October 15, 2024
Yellow Card’s Chief of Staff, Gillian Darko, highlighted that this partnership would help drive financial growth in Africa by providing easier access to crypto 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,” said Gillian Darko, Yellow Card’s 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. This partnership enabled users to access Tether (USDT) and USD coin (USDC) through Alchemy Pay’s platform, supporting over 50 fiat currencies across 173 countries.