Aptos Labs Partners Yellow Card for Gas-Free Stablecoin Transactions in Africa

Aptos Labs, a prominent altcoin project, has recently expanded its ecosystem by introducing Shelby, a decentralized protocol, and has seen increased conversations around ETFs. Additionally, the CEO of Aptos Labs has joined the United States CFTC subcommittee to contribute to the shaping of digital asset regulations. In a significant move to enhance adoption, Aptos Labs has partnered with Yellow Card, a fintech firm, to introduce gas-free and instant stablecoin transactions across various African nations. This collaboration underscores Africa's growing influence in the crypto revolution and aims to provide seamless access to USDT and USDC across 20 countries.

The partnership leverages Yellow Card's extensive financial network and Aptos' advanced blockchain infrastructure to ensure more affordable, accessible, and faster stablecoin transfers for everyday users across the continent. This alliance is particularly timely as Sub-Saharan Africa experiences a crypto boom, with digital asset users exceeding 54 million. These users often face challenges such as complex platforms and high fees when using crypto for transactions. Aptos and Yellow Card aim to eliminate these barriers, making crypto transactions more user-friendly and cost-effective.

Africa's young, mobile-first generation is rapidly adopting digital solutions due to the limitations and unreliability of traditional banking systems. This region dominates P2P cryptocurrency exchange trade volume, with several countries featuring in the top ten. However, users have encountered hurdles, primarily high gas fees, which are transaction charges incurred when using blockchains. These fees can be prohibitively high for Africans transferring small amounts of money via digital assets. Aptos, known for its scalability and speed, introduces gas-sponsored transactions, allowing users to send and receive stablecoins without paying gas charges. This innovation is expected to improve accessibility in the region.

Yellow Card's Director of Strategy, Gillian Darko, highlighted the benefits of the partnership, stating that by eliminating gas fees and enabling instant settlement on the robust, next-generation Layer1 Aptos network, millions of users will have faster and more affordable access to USDT and other stablecoins for various purposes, including cross-border transfers and everyday purchases. Yellow Card, a well-known fintech company in Africa, operates an accessible and compliant platform that allows users to buy, store, and sell digital assets using local payment options in over 20 African nations, including Kenya, South Africa, Nigeria, Uganda, and Ghana. With the integration of Aptos, Yellow Card users will enjoy gas-free stablecoin transactions, making crypto transfers for daily transactions, remittances, and online commerce faster, simpler, and cheaper.