U.S. dollar-backed stablecoins are increasingly becoming a crucial financial tool for people in African nations facing severe currency devaluation.
According to Craig Stoehr, general counsel for Yellow Card, these digital assets, such as Tether and USDC, provide a much-needed safe haven.
Empowering communities in Africa
Stoehr noted the importance of stablecoins in a recent interview, stating, “stablecoins are a lifeline for Africans facing devaluation; fighting hyperinflation, enabling fast cross‑border payments & empowering communities.” This statement emphasises the multi-faceted role these digital currencies play in mitigating the economic hardships many on the continent face.
As a result, the instability of local currencies in some African countries has led to significant economic challenges. Stablecoins, by being pegged to a stable asset like the US dollar, offer a way to preserve value.
Stoehr further elaborated on this point, noting that stablecoins are instrumental in “empowering communities.” This empowerment comes from providing individuals with a more stable store of value and facilitating their participation in the global digital economy.
In addition to preserving value, stablecoins also streamline financial transactions across borders. Traditional cross-border payments can be slow, costly, and inefficient.
Stablecoins offer a faster and more cost-effective alternative. As Stoehr pointed out, they enable “fast cross‑border payments,” which is particularly beneficial for businesses and individuals who need to send or receive money internationally. This efficiency can foster economic growth and improve financial inclusion across the African continent.
About Yellow Card
Yellow Card is a leading fintech company transforming Africa’s digital economy through stablecoin-powered financial services.
The company operates across multiple countries and offers a secure platform for buying, selling, and storing digital assets like USDT, USDC, and PYUSD.
With deep integration into regional banks, mobile money systems, and cash agents, Yellow Card promotes financial inclusion where traditional banking is scarce. Its business tools—like APIs and widgets—simplify stablecoin adoption for merchants.
Backed by strategic partners like Circle and strong investor support, the company continues to expand while maintaining regulatory compliance, including its CASP license in South Africa. Yellow Card is bridging Africa to global finance.