Circle Payments Network partners Yellow Card to enable real-time Naira payouts in Nigeria

Circle Payments Network (CPN) has expanded its footprint into Nigeria through a partnership with Yellow Card, a leading stablecoin payment platform in Africa, to offer real-time Naira (NGN) payouts. The initiative, announced on July 30, 2025, aims to leverage USDC stablecoins to facilitate instant cross-border and domestic payments, targeting remittances, payroll, gig economy transactions, and trade finance. This comes at a time when Nigeria, Africa’s largest economy, is experiencing a surge in on-chain activity, having processed an estimated $125 billion in on-chain value between July 2023 and June 2024, according to the 2024 Chainalysis Geography of Crypto Report [1].

The partnership is expected to significantly reduce the cost and time associated with traditional banking systems, which often involve high fees and lengthy processing times. The World Bank reported that Nigeria received $20 billion in annual remittances in 2024, and a 2023 IMF study noted that stablecoin-based systems could cut remittance costs by up to 70% [2]. With Nigeria's crypto landscape evolving rapidly—marked by a 150% increase in transactions in 2025 following the lifting of its 2021 crypto ban—the move positions CPN and Yellow Card to play a pivotal role in the country’s digital finance transformation.

Yellow Card, which operates in 20 African countries and has processed over $6 billion in transactions, has been recognized for its scalable infrastructure and experience in cross-border settlements, including a prior collaboration with Visa [3]. The integration with CPN’s global stablecoin network could further solidify Yellow Card’s position as a key player in the continent’s digital payments ecosystem. However, the partnership has also drawn scrutiny due to Yellow Card’s 1.8-star Trustpilot rating and reports of account freezes, raising concerns about operational reliability and regulatory compliance [1]. These issues highlight the ongoing challenges in building consumer trust within the crypto sector, especially in regions where fraudulent activity remains a concern, as noted by Chainalysis, which reported $178 billion in illicit crypto activity over five years [4].

The collaboration aligns with a global trend of increased interest in stablecoin-based payments, particularly in emerging markets where traditional financial systems may be underdeveloped or costly. The use of stablecoins like USDC allows for instant, low-cost transactions in local currencies, potentially driving broader adoption of digital payments among both businesses and consumers [3]. Furthermore, the timing of the announcement coincides with growing global interest in stablecoins for cross-border B2B transactions, with CPN having previously trialed its network for payments between East and West African economies [6].

While the initiative represents a significant step in bridging traditional and digital financial systems in Nigeria, its long-term success will depend on addressing the concerns around platform reliability and regulatory compliance. As the stablecoin infrastructure continues to mature, the partnership could serve as a model for similar integrations in other emerging markets [2].

[1] https://x.com/jerallaire?lang=en

[2] https://cryptorank.io/news/feed/74ee0-visa-processes-200m-in-stablecoins-but-says-tech-still-needs-regulatory-clarity

[3] https://bitcoinke.io/2025/07/global-stablecoin-searches-hit-record-high/

[4] https://www.cryptowisser.com/news/visa-200-million-stablecoin-settlement-volume-regulatory-clarity

[6] https://www.cryptotimes.io/2025/07/30/hong-kongs-rd-technologies-raises-40m-amid-stablecoin-licensing-buzz/