On Thursday, 16 January, Africa’s largest stablecoin on/off ramp, Yellow Card, hosted key industry heavyweights in the fintech industry in Accra, Ghana. The event, hosted by the company’s Chief of Staff and Director of Strategy, Gillian Darko, brought together industry leaders to discuss the role stablecoins play in cross-border transactions, specifically how it impacts businesses.
Attendees included the likes of Martin Kwame Awagah, President of the Ghana Fintech and Payments Association; Ike Anison, Ghana Country Director for Onafriq; Paapa Osei, Head of Regulation at MTN Ghana, as well as other representatives from the United Nations Development Programme, CalBank, Ecobank, the American Chamber of Commerce, Visa, IBM, Access Bank, Express Pay, and Paystack, as well as members of the Yellow Card Executive team.
Chris Maurice, CEO and co-founder of Yellow Card, delivered a keynote address on The Future of Cross-Border Transactions with Stablecoins. During his speech, Maurice highlighted the benefits of stablecoins, including speed, stability, security, and enhanced liquidity management. He emphasized Yellow Card’s B2B API as a tool for businesses to facilitate seamless cross-border transfers.
The event featured an insightful panel discussion on Unlocking Opportunities with Stablecoins in Africa’s Financial Ecosystem. The panel was moderated by Adoma Owusu, General Manager, Business Development and Expansion, at MTN Ghana, and the panellists included Chris Maurice CEO, Yellow Card; Philip Twum, Head of Business Development, FIDO, and Samuel Tettey Amanor, CEO, BlueSPACE Africa Technologies. Discussions centered on the transformative potential of stablecoins in cross-border payments, regulatory challenges, and their integration into traditional banking systems. Panellists also shared real-world case studies and success stories.. In addition, Mr. Martin Kwame Awagah (Ghana Fintech and Payments Association) and Mr. Eric Annan (Aya) announced the formation of the Blockchain and Digital Assets Advocacy Group, aimed at promoting blockchain technology and digital asset adoption in Ghana.
The event coincided with significant developments in Ghana’s blockchain regulatory landscape. The newly inaugurated government has pledged to enact a Virtual Assets Service Providers (VASP) Law, enabling the regulation of virtual asset services (cryptocurrencies, tokens, blockchain technology, etc.) by the Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) of Ghana.. In August 2024, the BoG issued draft Guidelines on Digital Assets, intending to regulate digital asset activities to enhance financial inclusion, economic stability, and consumer protection. These guidelines also outline stringent anti-money laundering (AML), cybersecurity, and licensing requirements for virtual asset service providers.
Prior to this event, Yellow Card hosted a breakfast, on the 13th of January, with the Ghana Fintech and Payments Association. This was a private workshop with key stakeholders that led to the formation of a Blockchain and Digital Assets advocacy group to encourage the BoG to move with purpose in adopting a regulatory framework to ensure that they achieve their goal of protecting end users and fighting against money laundering and terrorist financing in the country. This initiative shows Yellow Card’s commitment to fostering transparency and trust between the government and the blockchain industry.
Looking ahead, Yellow Card is dedicated to helping businesses streamline their cross-border transactions across Africa and expand operations while working closely with governments and regulatory bodies, including in Ghana, to ensure full compliance with local laws and international best practices. Stablecoins are no longer the future—they are the present. Yellow Card remains committed to building partnerships with businesses and stakeholders to unlock Africa’s financial potential.
By: Peculiar Ibeabuchi, Brand Communications Assistant and Edem Goku, Ghana Marketing Manager, Yellow Card