Leading African stablecoin platform Yellow Card convened key fintech industry leaders in Accra, on January 16, 2025, to explore the role of stablecoins in cross-border transactions and their impact on businesses.
The high-profile event, orchestrated by Yellow Card’s Chief of Staff and Director of Strategy Gillian Darko, drew prominent figures from Ghana’s financial sector, including Martin Kwame Awagah, President of the Ghana Fintech and Payments Association, and Ike Anison, Ghana Country Director for Onafriq. Representatives from major organizations such as MTN Ghana, UNDP, CalBank, Ecobank, Visa, IBM, Access Bank, Express Pay, and Paystack were also in attendance.
Yellow Card CEO and co-founder Chris Maurice delivered the keynote address on “The Future of Cross-Border Transactions with Stablecoins,” emphasizing the technology’s key advantages including enhanced speed, stability, security, and liquidity management. Maurice also showcased the company’s B2B API solution, designed to streamline cross-border transfers for businesses.
A highlight of the event was a panel discussion titled “Unlocking Opportunities with Stablecoins in Africa’s Financial Ecosystem.” Moderated by MTN Ghana’s General Manager of Business Development and Expansion, Adoma Owusu, the panel featured insights from industry leaders including Maurice, Philip Twum of FIDO, and Samuel Tettey Amanor of BlueSPACE Africa Technologies. The discussion explored stablecoins’ transformative potential in cross-border payments, regulatory challenges, and integration with traditional banking systems.
The event coincided with significant developments in Ghana’s blockchain regulatory landscape. The government recently announced plans to implement a Virtual Assets Service Providers (VASP) Law, which will enable the Bank of Ghana (BoG) and the Securities and Exchange Commission to regulate virtual asset services. This follows the BoG’s release of draft Guidelines on Digital Assets in August 2024, aimed at enhancing financial inclusion, economic stability, and consumer protection.
In a notable development during the event, Martin Kwame Awagah and Eric Annan announced the formation of the Blockchain and Digital Assets Advocacy Group, an initiative to promote blockchain technology and digital asset adoption in Ghana. This announcement followed a private workshop hosted by Yellow Card with the Ghana Fintech and Payments Association on January 13, which laid the groundwork for the advocacy group’s formation.
The advocacy group aims to encourage the Bank of Ghana to establish a comprehensive regulatory framework that balances user protection with anti-money laundering measures. This initiative reflects Yellow Card’s commitment to fostering transparency and collaboration between the government and the blockchain industry.
Looking ahead, Yellow Card plans to continue its efforts to help businesses optimize cross-border transactions across Africa while maintaining close cooperation with regulatory bodies to ensure compliance with local and international standards. The company emphasizes that stablecoins are no longer a future prospect but a present reality in Africa’s financial landscape.
By Peculiar Ibeabuchi, Brand Communications Assistant, and Edem Goku, Ghana Marketing Manager, Yellow Card
