Alchemy Pay partners with Yellow Card to expand crypto access in Africa

Alchemy Pay announced a new partnership with Yellow Card, a fintech company operating in 20 African countries.

The partnership between the global fiat-to-crypto payment gateway and Yellow Card aims to make it easier for people in Africa to access cryptocurrency using familiar payment methods such as bank transfers and mobile money, according to a statement from the company.

This collaboration will help people in South Africa, Rwanda, Uganda and other countries buy crypto more easily using their local currencies.

Earlier this month, Alchemy Pay integrated Samsung Pay into its Virtual Card service, allowing global users to make cryptocurrency payments more easily. This expands its existing options, including Google Pay for seamless transactions in-store and online.

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 leverage Yellow Card’s payment infrastructure, which has processed over $3 billion in transactions and supports a variety of 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 of people.

Yellow Card Chief of Staff Gillian Darko emphasized that this partnership will help increase 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 Chief of Staff and Chief Strategy Officer.

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 the Alchemy Pay platform, which supports more than 50 fiat currencies in 173 countries.