Mastercard and Yellow Card are launching a strategic partnership to develop stablecoin payment products across Eastern Europe, the Middle East, and Africa, with the UAE named as an initial focus market.

The collaboration will test stablecoin use cases across four areas.

These include cross-border remittances, business-to-business settlements, digital loyalty programmes, and treasury management.

Both companies will work with banks and regulatory bodies to pilot compliant stablecoin solutions designed to improve payment efficiency and reduce transaction costs.

Yellow Card operates as a licensed stablecoin infrastructure provider, focusing primarily on emerging markets where traditional banking infrastructure can be fragmented.

The alliance will establish joint working groups to build interoperable solutions for financial institutions within the Mastercard network, connecting traditional finance with blockchain payment rails.

Alongside the UAE, the initial stablecoin rollout will target Ghana, Kenya, Nigeria, and South Africa.

Chris Maurice, Chief Executive Officer of Yellow Card, said emerging markets present a clear opportunity for payment innovation, provided companies can navigate local regulations.

“We bring years of experience building compliant stablecoin infrastructure where traditional banking falls short,”

Maurice said.

“Mastercard’s global network amplifies these capabilities, allowing us to serve businesses and consumers who need better, more affordable ways to move money across borders.”

Mete Güney, Executive Vice President, Market Development, EEMEA, Mastercard, said:

“Stablecoins are an exciting and useful option for some payments, and we look forward to working on additional use cases with Yellow Card, while continuing to leverage Mastercard’s expertise to make stablecoins seamless and secure.”

Featured image credit: Edited by Fintech News UAE, based on image by ilygraphic via Magnific