Latest news with #GillianDarko
Business Insider
02-07-2025
- Business
- Business Insider
Aptos Labs and Yellow Card Partner to Bring Instant, Zero-Fee Stablecoin Transfers Across Africa
Aptos Labs and Yellow Card Partner to Bring Instant, Zero-Fee Stablecoin Transfers Across Africa Aptos integration enables seamless, low-cost USDT and USDC trading for Yellow Card customers in 20 African countries Aptos Labs and Yellow Card have launched instant, gas-sponsored stablecoin transfers across 20 African countries, giving millions of customers faster, more affordable access to USDT and other stablecoins supported by Yellow Card. During this campaign, all transfers on the Aptos network will settle instantly with sponsored gas fees, enabling frictionless payments for everything from cross-border transfers to daily purchases. Stablecoin adoption is accelerating across Africa, fueled by practical, everyday use cases like small business payments, treasury management, and cross-border transfers. Today, Sub-Saharan Africa now leads globally in stablecoin usage, with over 54 million digital asset customers across the continent, according to Yellow Card research, a clear signal that users are seeking faster, cheaper, and more stable alternatives to traditional financial systems. With this integration, Yellow Card customers can move stablecoins instantly, without high fees or long delays. Whether it's a small-to-medium sized business managing cross-border payroll, a financial institution facilitating high-volume transfers, or a family receiving support from relatives overseas, customers can access sub-second transaction finality and zero gas fees. Built for mobile-first, high-volume markets, Aptos delivers the speed, scale, and affordability needed to power the next generation of real-world payments across Africa. "We're excited to support Yellow Card in bringing millions of users seamless access to USDT and USDC across 20 countries," said Alex Heuer, Head of Payments at Aptos Labs. "Africa is leading the way in stablecoin adoption for practical use cases, and our zero-fee, instant settlement capabilities are perfectly suited to meet this demand.' This initiative builds on Aptos' integration of the largest stablecoins by market capitalization, Tether's USDT, Circle's USDC and USDe, expanding the network's role in global payments infrastructure. In 2024, global stablecoin transfer volume reached $27.6 trillion, surpassing the combined annual volume of Visa and Mastercard. 'We're thrilled to partner with Aptos Labs to bring instant, zero‑fee stablecoin transfers across 20 African countries," said Gillian Darko, Chief of Staff and Director of Strategy of Yellow Card. 'As demand for stablecoins continues to grow across the continent, cost‑effective and frictionless transactions are critical - and that's exactly what this partnership delivers. By eliminating gas fees and enabling instant settlement on the robust, next‑generation Layer 1 Aptos network, we're empowering millions to access faster, more affordable USDT and other stablecoins for everything from cross‑border transfers to everyday purchases. This is a major step forward in advancing financial inclusion and stability across Africa'. Aptos' architecture is purpose-built to support real-time, high-volume stablecoin transactions. With sub-second finality, extremely low fees, and throughput consistently above 11,000 TPS in production, it offers the performance needed to move stablecoins from niche use cases into everyday payments, especially in high-demand regions like Africa. As stablecoins evolve into critical payment infrastructure, Aptos' scalable design, developer tooling, and support for advanced features like parallel execution and account abstraction make it one of the few blockchains capable of powering instant, cost-effective transactions at scale. To get started, users can visit Yellow Card or learn more at Aptos. Aptos is a next-generation Layer 1 blockchain. Aptos' breakthrough technology, scalable infrastructure and user safeguards are designed to power the next generation of financial systems by offering unparalleled high throughput and low latency that can scale to billions of users. About Aptos Labs Aptos Labs is dedicated to creating network tooling and seamless usability for users of the Aptos network, a next-generation high-performance public Layer 1 blockchain. Aptos is backed by top-flight investors including a16z, Katie Haun, Apollo Global Management Dragonfly, PayPal Ventures, and Franklin Templeton Investments, among others. About Yellow card Yellow Card is the largest and first licensed Pan-Africa stablecoin-based infrastructure provider, operating in 20 countries across the continent and in the emerging markets. Their mission is to empower the African continent by making it easy for individuals and businesses of all sizes to make international payments, protect their financial assets, manage their treasury function, and access hard currency liquidity. Leveraging the power of stablecoins pegged 1:1 to the U.S. dollar (e.g. USDC, USDT, and PYUSD), they deliver their innovative solutions through their commercial trading function, their B2B products (i.e. their payments API and 'widget'), and their retail and small business platform.
IOL News
03-06-2025
- Business
- IOL News
How stablecoins are rapidly reshaping Africa's money sovereignty
A notable evolution among African governments has been the significant strides in digital asset regulation. Image: File. The recent 2025 Africa CEO Forum marked a turning point in digital finance discussions, as business and policy leaders highlighted the growing role of stablecoins and digital assets in shaping monetary sovereignty, cross-border trade and financial inclusion across the continent. This was according to Gillian Darko, Chief of Staff and Director of Strategy at Yellow Card, who noted that while discussions at last year's Africa CEO Forum largely revolved around the speculative potential of blockchain, this year's event marked a decisive shift, from theoretical discourse to strategy-driven implementation. 'In previous years, conversations focused on blockchain's possibilities, but in 2025, the emphasis was on practical applications, particularly in the realms of stablecoins and AI. The discussion revealed that financial innovation, including digital currencies, is increasingly viewed as foundational to governance and public service delivery.' she said. This perspective was reinforced by Ghana's Minister of Communication, Samuel Nartey George, who emphasised that the future of governance must incorporate digital currencies and AI to enhance transparency and efficiency. A tangible reality Darko said that these sentiments resonated across the forum, reinforcing how digital tools have evolved from niche, frontier technologies to central economic instruments, underscoring the fact that stablecoins is not just a theoretical concept. but is already a tangible reality in countries like Nigeria and Ghana and other emerging markets in Africa. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ A notable evolution among African governments has been the significant strides in digital asset regulation. The Bank of Ghana announced that it will commence regulation of stablecoins and digital assets by September 2025, following the draft guidelines issued in August 2024. The finalised framework will introduce licensing requirements, anti-money laundering compliance and joint oversight with the Securities and Exchange Commission. 'This shift reflects a broader trend across Africa, where nations like Ghana and Rwanda are being recognised for their investments in digital infrastructure and policy frameworks. This highlighted that cross-border digital alignments, including AI and digital assets, must be a priority, not a luxury, if African governments want sovereign control over future economic levers,' Darko said. 'The growing consensus is clear: regulations should support innovation, not stifle it. Ghana's approach aligns with this sentiment, ensuring that digital finance remains a tool for transparency, efficiency and economic empowerment rather than an unregulated frontier.' Foundational pillar of sovereignty Given the increased focus on the adoption and regulation of digital assets, stablecoins are quietly emerging as a foundational pillar of sovereignty in Africa. At first glance, stablecoins might seem unrelated to supply chain resilience, but Africa's sovereignty will depend on how it manages its infrastructure, including payments. 'By enabling African companies to transact without relying on volatile local currencies or US dollar dependencies, stablecoins offer a practical solution that aligns seamlessly with Africa's ambitions for seamless intra-continental payments,' Darko added. 'Throughout the Forum, I observed synergies; ways in which this technology could be integrated into broader economic frameworks. The key takeaway remains that Africa must build infrastructure that works for its own unique challenges, rather than adopting external models that don't fit its realities.' She added that, across multiple industries, new thinking continues to emerge on how digital assets can be integrated into practical solutions, reinforcing Africa's financial sovereignty and cross-border efficiency. As these discussions evolve, the question remains: How can different sectors leverage this technology to build resilient, inclusive financial ecosystems? Cater to Africa's tech -savvy youth 'The next phase in this ecosystem must cater to the growing, tech-savvy youth population in Africa, which is building massive businesses and driving economic expansion. Data published by the International Monetary Fund shows that by 2050, one in four people globally will be African, with consumer expenditure projected to reach billions. This demographic shift demands a financial ecosystem that keeps pace with their ambitions,' Darko said. 'As a result, regulation will advance, infrastructure will improve, and digital financial solutions must evolve to support Africa's next economic leap. The foundation has been laid; now it is about scaling it to match the aspirations of a rapidly growing, digitally sophisticated population.' 'The momentum is undeniable as Africa is moving at an unprecedented pace, and witnessing this transformation firsthand is both exciting and inspiring,' Darko said. Gillian Darko, Chief of Staff and Director of Strategy at Yellow Card. Image: Supplied.
