Australian stablecoin payment startup Stables is making a strategic push into Africa through a collaboration with Yellow Card, the continent’s leading crypto on-ramp and off-ramp platform. This partnership aims to bring secure and efficient stablecoin transactions to millions of users across Africa.

Catering to Growing Demand

The collaboration comes at a time when Africa is witnessing a surge in digital currency adoption, fueled by rising smartphone penetration and increasing awareness of cryptocurrencies. This partnership directly addresses the growing demand for stablecoins, which offer price stability compared to volatile cryptocurrencies.

Stables Sees Africa’s Potential

Stables co-founder Bernardo Bilotta highlights the vast potential in Africa: “We see tremendous opportunity in Africa, driven by the growing demand for stablecoins. This launch allows us to make a real impact on the everyday lives of Africans by expanding their financial options.”

Yellow Card: The Perfect Partner

Yellow Card’s CEO, Chris Maurice, emphasizes the synergy between the two companies. “Stables’ technology combined with Yellow Card’s established network will empower more Africans to access and utilize financial services effectively. Africa is a prime market for stablecoins, making it a natural fit for Stables’ expansion.”

Seamless Transactions and Financial Inclusion

Stables’ platform allows users to easily convert between stablecoins and local currencies, bridging the gap between traditional finance and DeFi (decentralized finance). This empowers users across 138 countries, including the 15 African nations Yellow Card currently operates in, to conduct secure online and offline transactions with greater stability.

Security and Compliance at the Forefront

Stables prioritizes user safety by ensuring regulatory compliance and implementing stringent risk management practices. With the necessary licenses secured, they aim to provide a secure environment for users to explore the potential of stablecoins.

Africa’s Crypto Revolution

Stables’ entry into Africa signifies more than just a business move. It underscores their commitment to driving economic growth and creating job opportunities within the African crypto sector. Leveraging their experience in Southeast Asia and Australia, Stables positions itself as a potential leader in Africa’s burgeoning crypto space.