Latest news with #GodfreySullivan
Yahoo
21 hours ago
- Business
- Yahoo
Visa Expands Stablecoin Reach in Europe, Middle East and Africa
Payment card giant Visa (V) has expanded its stablecoin capabilities across the Central and Eastern Europe, Middle East, and Africa (CEMEA) region, and has also formed a strategic partnership with African crypto exchange Yellow Card. Visa appears to be doubling down on stablecoins, which are fast becoming the new payment rails of the Internet, having last month invested in stablecoin-based payments firm BVNK. In 2023, Visa became one of the first major payment networks to settle transactions in Circle's USDC stablecoin. To date, over $225 million in stablecoin volume has been settled through Visa across participating clients, according to a press release. 'In 2025, we believe that every institution that moves money will need a stablecoin strategy,' said Godfrey Sullivan, Visa's Senior Vice President and Head of Product and Solution for CEMEA in a statement. The Yellow Card partnership will explore cross-border payment options, streamlining treasury operations and enhancing liquidity management. 'Together with Visa, we're building a bridge between traditional finance and the future of money movement. We look forward to continuing to innovate new solutions that can transform how money moves for even more secure, efficient, and transparent payment solutions,' said Chris Maurice, Co-Founder and CEO of Yellow Card. Connectez-vous pour accéder à votre portefeuille
Yahoo
a day ago
- Business
- Yahoo
Visa, Yellow Card team up to expedite stablecoin adoption
Visa has formed a partnership with African fintech company Yellow Card to extend its stablecoin settlement system within the Central and Eastern Europe, Middle East, and Africa (CEMEA) region. The collaboration is set to explore the application of stablecoin technology to facilitate treasury operations and liquidity management for cross-border transactions. It will enable USD transactions across borders using blockchain technology, aiming to reduce settlement costs and allow for continuous settlements, including on weekends and holidays. Visa has already seen over $225m in stablecoin transactions settled through its network among participating clients. The partnership will investigate stablecoin use cases in jurisdictions where Yellow Card operates, with the intention of integrating these solutions with Visa Direct to improve cross-border payment services. Visa CEMEA Product and Solution head and senior vice president Godfrey Sullivan stated: 'We're excited to team up with Yellow Card to enable faster and more accessible digital payments. We believe that every institution that moves money will need a stablecoin strategy. As more players in the payments ecosystem explore this powerful new technology, Visa stands ready to help our partners navigate the transformation, bringing the scale, trust and innovation needed to help build the next generation of global payments.' Yellow Card co-founder and CEO Chris Maurice said: "Together with Visa, we're building a bridge between traditional finance and the future of money movement. We look forward to continuing to innovate new solutions that can transform how money moves for even more secure, efficient, and transparent payment solutions." According to Yellow Card senior legal counsel Edline Murungi, Kenya's draft Virtual Asset Service Providers Bill is the most progressive in Africa, Bloomberg reported. He was quoted by Bloomberg as saying: 'Those use cases are going to really change the industry. And if other countries follow suit, then Kenya is going to be a hub for a lot of digital-asset activities.' Last month, Visa invested in BVNK, a stablecoin payments firm based in South Africa. "Visa, Yellow Card team up to expedite stablecoin adoption " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Economy ME
a day ago
- Business
- Economy ME
Visa expands stablecoin initiatives in CEMEA, partners with African fintech Yellow Card
Visa announced on Thursday significant advancements in its stablecoin initiatives, with expanded settlement capabilities in the Central and Eastern Europe, Middle East, and Africa (CEMEA) region and a strategic partnership with Yellow Card , a leading pan-African fintech. Visa's latest efforts further underscore its vision for transforming money movement and building the next generation of payment infrastructure through innovative technology. With the payments landscape more dynamic and competitive than ever, stablecoins are emerging as one of the most promising tools for faster and more accessible digital payments 'In 2025, we believe that every institution that moves money will need a stablecoin strategy. As more players in the payments ecosystem explore this powerful new technology, Visa stands ready to help our partners navigate the transformation, bringing the scale, trust and innovation needed to help build the next generation of global payments,' said Godfrey Sullivan, Visa's senior vice president and head of product and solution for CEMEA. Enabling USD cross-border transactions through blockchain Visa said it is expanding its stablecoin settlement solution to select issuers and acquirers in CEMEA, enabling USD cross-border transactions through blockchain technology. This initiative helps reduce settlement costs, enhances liquidity management and can support 365-day settlements, including weekends and holidays. In 2023, the digital payments leader became one of the first major networks to settle transactions in stablecoin when it piloted enabling clients to fulfill their settlement obligations in USDC. To date, over $225 million in stablecoin volume has been settled through Visa across participating clients. Read: How regulation and innovation are positioning the UAE as a global leader in emerging market investments Exploring stablecoin use cases Visa is also partnering with Yellow Card, a leading pan-African fintech, to explore stablecoin use cases and opportunities across markets where Yellow Card is licensed to operate to help streamline treasury operations and enhance liquidity management. 'Together with Visa, we're building a bridge between traditional finance and the future of money movement. We look forward to continuing to innovate new solutions that can transform how money moves for even more secure, efficient and transparent payment solutions,' said Chris Maurice, co-founder and CEO of Yellow Card. The partnership seeks to test integration opportunities with Visa Direct to further investigate and expand cross-border payment options. As one of the world's largest digital payments networks, Visa Direct enables secure and seamless funds delivery across more than 190 countries and territories.
Zawya
a day ago
- Business
- Zawya
Visa expands stablecoin initiatives in CEMEA
Visa (NYSE: V), a global leader in digital payments, announced significant advancements in its stablecoin initiatives, with expanded settlement capabilities in the Central and Eastern Europe, Middle East, and Africa (CEMEA) region and a strategic partnership with Yellow Card, a leading pan-African fintech. These efforts further underscore Visa's vision for transforming money movement and building the next generation of payment infrastructure through innovative technology. With the payments landscape more dynamic and competitive than ever, stablecoins are emerging as one of the most promising tools for faster and more accessible digital payments. Godfrey Sullivan, Visa's Senior Vice President and Head of Product and Solution for CEMEA, said, 'In 2025, we believe that every institution that moves money will need a stablecoin strategy. As more players in the payments ecosystem explore this powerful new technology, Visa stands ready to help our partners navigate the transformation, bringing the scale, trust and innovation needed to help build the next generation of global payments.' Modernizing Settlement Infrastructure Visa is expanding its stablecoin settlement solution to select issuers and acquirers in CEMEA, enabling USD cross-border transactions through blockchain technology. This initiative helps reduce settlement costs, enhances liquidity management, and can support 365-day settlements, including weekends and holidays. In 2023, Visa became one of the first major payments networks to settle transactions in stablecoin when it piloted enabling clients to fulfill their settlement obligations in USDC. To date, over $225 million in stablecoin volume has been settled through Visa across participating clients. Enhancing Cross-Border Money Movement Visa is partnering with Yellow Card, a leading pan-African fintech, to explore stablecoin use cases and opportunities across markets where Yellow Card is licensed to operate to help streamline treasury operations and enhance liquidity management. The partnership is intended to test integration opportunities with Visa Direct to further investigate and expand cross-border payment options. As one of the world's largest digital payments networks, Visa Direct enables secure and seamless funds delivery across more than 190 countries and territories. Chris Maurice, Co-Founder and CEO of Yellow Card, said, "Together with Visa, we're building a bridge between traditional finance and the future of money movement. We look forward to continuing to innovate new solutions that can transform how money moves for even more secure, efficient, and transparent payment solutions." About Visa Inc. Visa (NYSE: V) is a world leader in digital payments, facilitating more than 215 billion payments transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at
