PayPal USD Helps Reduce Transaction Fees in Africa

Yellow Card was the first fintech in Africa to list PayPal USD (PYUSD). Yellow Card is the largest licensed stablecoin on-and-off ramp for 20 countries in Africa, making it easy to access currencies like USD via stablecoins like PYUSD.

When Yellow Card chose to list PYUSD, they cited that the “...addition of PYUSD to Yellow Card brings forth the convenience of sending and receiving funds locally and across borders. Whether you're paying for services, shopping online, or just sending money to loved ones, you now have an alternative [and can use] PYUSD to complete these transactions.”

Since listing PYUSD last December, PYUSD is already making a real impact for Yellow Card users throughout the African continent.

“Stablecoins are the first technology that gives you the real exchange rate…it’s not just more efficient, it is a more fair way of being able to do these transactions and give people the real value of their money on the ground. ”

-Chris Maurice, CEO of Yellow Card

Watch the video to hear Chris, CEO of Yellow Card, and Carine, a Yellow Card user, explain how PYUSD reduces transaction fees and the impact that it has on the average customer in Africa who gets the real value of their money thanks to PYUSD.

“To me, speed, cost and inclusivity are very important. That really gave me my financial freedom back.”

-Carine, Yellow Card user

Yellow Card is at the vanguard of a stablecoin-driven financial system that benefits its customers. Recent developments such as this show that the adoption of stablecoins is going from steady to brisk, even though most enterprises already recognize the immense potential and transformational capabilities of the pioneering technology. With enterprise customers touting the benefits, stablecoin adoption is poised to accelerate.

Paxos is one of many in the industry who eagerly watches how PYUSD continues to usher in new use cases for stablecoins – from payments to global money movement and beyond – with each discovery getting us all closer to a more open, cost-effective and efficient financial system.

The views, information or opinions expressed in this video are solely those of the individual presenting them and do not necessarily represent the views of PayPal or Paxos. This is not financial advice.