Yellow Card and Turnkey team up to streamline stablecoin payments globally

Yellow Card and Turnkey have partnered to simplify stablecoin payments in emerging markets. Their solution removes the complexity of managing crypto wallets, making transactions more accessible. The collaboration targets regions where cross-border payments are slow and expensive. Cross-border payments in emerging markets currently cost an average of 6.36% per transaction. They also take days to settle due to correspondent banking delays. Stablecoins offer a faster alternative, with near-instant settlement and dollar-pegged value.

Traditionally, using stablecoins requires managing crypto wallets, seed phrases, and private keys. This process is unfamiliar to many users, creating a barrier to adoption. Turnkey addresses this by providing secure wallet infrastructure, handling key generation and signing.

Yellow Card operates stablecoin payment rails in 34 countries, including 20 in Africa. Major payment providers like Visa, Mastercard, and PayPal already use or partner with the company. With Turnkey’s embedded wallets, users can now authenticate via email or social login, without dealing with crypto complexities. The partnership allows users to access stablecoin payments without managing wallets. This reduces friction in emerging markets, where high costs and delays have long been an issue. The solution aims to boost adoption of stablecoin-based transactions in these regions.