Alchemy Pay Partners with Yellow Card to Expand Crypto Access

Alchemy Pay and Yellow Card, a fintech business operating in 20 African nations, has launched a new collaboration. 

According to a press statement from the company, the alliance between Yellow Card and the worldwide fiat-crypto payment gateway intends to facilitate Africans' access to cryptocurrencies through recognizable payment mechanisms, including mobile money and bank transfers.

People in South Africa, Rwanda, Uganda, and other nations will find it easier to purchase cryptocurrency using their local currencies thanks to this partnership.

Alchemy Pay added Samsung Pay to its Virtual Card service earlier this month, making sending and receiving cryptocurrency payments easier for people worldwide. This increases their list of convenient in-store and online payment alternatives, including Google Pay.

Details of the partnership

Alchemy Pay's primary “on-ramp” product facilitates consumers' conversion of fiat money into cryptocurrency.

Alchemy Pay can now utilize Yellow Card's payment infrastructure, which handles over $3 billion in transactions annually and offers a range of local payment choices, thanks to their partnership.

By working together, Alchemy Pay and Yellow Card are making it easier for African customers to participate in decentralized finance and buy cryptocurrencies, potentially creating millions of new financial opportunities. 

🌍#Alchemy Pay is teaming up with @yellowcard_app to bring seamless crypto access to Africa!
This partnership enables African users to buy crypto with local currencies via bank transfers and mobile money, boosting financial inclusion in the region.https://t.co/E5ypYbLnGY$ACH pic.twitter.com/45GPH7ariM

— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) October 15, 2024

Chief of Staff at Yellow Card, Gillian Darko, emphasized that this collaboration will facilitate better access to stablecoins and cryptocurrency, contributing to Africa's financial growth. Gillian Darko:

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's Chief of Staff and Director of Strategy.” 

Alchemy Pay increased the scope of its offerings in June when it integrated with Scroll, a Layer-2 Ethereum scaling solution.

Through this agreement, consumers could access Tether and USD currency on the 173-country platform of Alchemy Pay, which supports over 50 fiat currencies.