Stablecoins slash cross-border payment costs in emerging markets

Cross-border payments in emerging markets face high costs and long delays. Traditional systems charge an average of 6.36% per transaction and take days to complete. Stablecoins offer a faster, cheaper alternative by avoiding correspondent banking markups and delays. Stablecoins provide dollar-pegged value and near-instant settlement. However, using them has historically required managing crypto wallets, seed phrases, private keys, and complex signing flows. This complexity has limited adoption in emerging markets.

Yellow Card now offers stablecoin infrastructure for payments in 34 countries, including 20 in Africa. The company partners with Visa, Mastercard, and PayPal to enable stablecoin movement. To simplify the process, Yellow Card uses Turnkey’s Embedded Wallet Kit.

Turnkey’s solution provides secure wallet infrastructure with pre-built authentication and wallet UI components. It includes a hook-based API and requires no backend setup. This makes it the fastest way to deploy embedded wallets for stablecoin payments. Embedded wallets remove the need for users to manage crypto wallets directly. Yellow Card and Turnkey are working together to improve the user experience and adoption of stablecoins. This collaboration aims to make cross-border payments in emerging markets more accessible and efficient.