Alchemy Pay and Yellow Card have teamed up to make cryptocurrency more accessible in Africa. Alchemy Pay’s on-ramp product will utilize Yellow Card’s payment infrastructure in 20 African countries, allowing users to purchase crypto with their local fiat currencies. This partnership aims to simplify the process of acquiring crypto by prospective users in several African nations.
Behind Alchemy Pay and Yellow Card's Bold Plan for African Crypto Adoption
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Africans to Buy Crypto with Local Currency
Alchemy Pay, a fiat-to- crypto payment gateway, and Yellow Card, an Africa-focused fintech firm, have partnered to improve crypto access in Africa. Through this collaboration, Alchemy Pay’s on-ramp product will utilize Yellow Card’s payment infrastructure, available in 20 African countries.
According to a statement from Alchemy Pay, the partnership will simplify the process for prospective crypto users in Botswana, Cameroon, Rwanda, South Africa, Uganda, and Zambia to purchase cryptocurrencies with their local fiat currencies.
Commenting on the partnership with Yellow Card, Robert McCracken, the Ecosystem Lead at Alchemy Pay, said:
Yellow Card has established itself at the cutting edge of digital payments across Africa. With their support for local payment rails there, Alchemy Pay is able to quickly extend its on-ramp coverage to serve millions of new users in these regions.
For her part, Gillian Darko, chief of staff and director of strategy at Yellow Card, said the partnership underscores the fintech firm’s commitment to accelerating financial growth across the continent. Darko added that the arrangement also enables “seamless access to stablecoins and decentralized finance in Africa.”
Alchemy Pay’s announcement of its collaboration with Yellow Card is the latest for the Singapore firm, which has secured money transmitter licenses in places like Arkansas, Iowa, and New Hampshire. It has also obtained various licenses in countries such as Canada, Indonesia, Lithuania, and the United Kingdom.
With the latest partnership announcement, Alchemy Pay’s payment network now covers 173 countries and includes over 300 fiat payment options.
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