TBD, a bitcoin developer-focused entity owned by Jack Dorsey’s Block, has partnered with Yellow Card, an Africa-focused cryptocurrency exchange platform, to launch a fiat on and off-ramp that enables payments in 16 African countries through Bitcoin rails. The new platform aims to make cross-border payments more affordable, accessible, and compliant. The partnership allows users to send US dollars or BTC and for recipients to receive the local currency equivalent. For recipients living in countries with hyperinflation, the platform can be used as a place to store BTC or stablecoins. Yellow Card's CEO, Chris Maurice, stated that the international payments space, especially in Africa, is in dire need of innovative solutions, and this is the culmination of the vision behind Block’s initial investment in Yellow Card in 2021. The partnership is expected to advance Block's empowerment via breaking down the barriers to financial access across the Global South.

(By Terence Zimwara)