TBD and Yellow Card, an Africa-focused cryptocurrency exchange platform, recently partnered to enable payments in about 16 African countries through the Bitcoin Rail Fiat on/ off-ramp has been launched. The goal of this arrangement is to make cross-border payments more affordable and accessible as well as compliant.
to hedge against inflation with BTC
TBD, an entity for bitcoin developers owned by Jack Dorsey’s Block, has joined forces with crypto exchange platform Yellow Card to enable 16 African countries to fiat platform to enable on- and off-franchise payments in according to a press releaseThe goal of this new development is to make cross-border payments more affordable and to create a compliant channel for money transfers.
According to an April 12 press release, Africa-focused crypto platform Yellow Card, one of TBD’s first partners, will allow users to send USD orBTCand the recipient will receive local currency equivalent. Recipients living in hyperinflationary countries can use this platform as a vault forBTCor stablecoin.
Chris Maurice, co-founder and CEO of Yellowcard, said of his company’s partnership with TBD:
We are thrilled to work with TBD and the Block team on tbDEX and their global payments initiative. We are thrilled to be working on this project. The field of international payments, especially in Africa, is in desperate need of innovative solutions that we can build together, and this is the culmination of the vision that Block had when it made its initial investment in Yellowcard in 2021.
Emily Chiu, co-founder and COO of TBD, spoke about the organization’s mission to facilitate Block’s empowerment through “removing barriers to financial access in the Global South. “Chiu said that Yellowcard’s focus on Africa, adding that it would be an ideal partner to help TBD achieve its goals.
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