The funding round attracted investment from SC Ventures, the venture capital arm of Standard Chartered, Sony Innovation Fund, Polychain Capital, Blockchain Capital, and other strategic investors.

The latest raise brings Yellow Card’s total equity funding to more than $120 million.

According to CoinDesk, the transaction values the company significantly above its reported $200 million valuation in 2022, although below the $1 billion mark. 

Yellow Card said the new capital will support the growth of its Global USD Accounts platform, a product that enables businesses to hold U.S. dollar balances, convert between stablecoins, manage treasury operations, and move funds through domestic payment networks across more than 50 countries.

The company also plans to extend its stablecoin payment infrastructure into Latin America and the Asia-Pacific region after building its presence across Africa.

“We just closed a $40 million strategic funding round… This round helps us get to the next stage, connecting more banks, fintechs, and enterprises to stablecoin rails, so dollar access isn’t just something a handful of institutions get to offer,” the company said in a statement announcing the investment.

Yellow Card was founded in 2016 by Chief Executive Officer Chris Maurice and Chief Technology Officer Justin Poiroux.

Since launching, the company says it has processed more than $10 billion in transaction volume, supports over 50 currencies, and holds licenses or registrations in 22 jurisdictions spanning Africa, Europe, and North America.

Maurice said the company is increasingly working with commercial banks worldwide to move U.S. dollars through blockchain-based infrastructure rather than traditional correspondent banking systems.

The long-term objective is to reduce dependence on conventional cross-border payment networks and improve the speed and cost of international transactions.

“Our focus is on connecting banks and enterprises to stablecoin infrastructure that makes moving dollars across borders faster and more efficient,” Maurice said.

The company noted that transaction activity has historically been split almost evenly between corporate customers and large financial institutions.

However, demand from banks is now growing more rapidly as regulated financial institutions increasingly adopt blockchain-based payment infrastructure.

The investment comes as financial institutions globally step up efforts to integrate blockchain technology into cross-border payments and settlement systems.

Stablecoins—digital tokens backed by fiat currencies such as the U.S. dollar—have gained traction as businesses seek faster, lower-cost international payment solutions while maintaining price stability.

Even established financial infrastructure providers are testing blockchain applications, with SWIFT recently announcing pilot initiatives exploring distributed ledger technology to improve cross-border financial messaging and asset transfers.