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Yellow Card Expands Stablecoin Payments to Brazil With GoMoney Acquisition

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Yellow Card Expands Stablecoin Payments to Brazil With GoMoney Acquisition

Global stablecoin payments infrastructure provider Yellow Card has established direct operations in Brazil by completing its acquisition of GoMoney, a virtual asset provider in Brazil, the company said in a Wednesday (Nov. 4) press release.

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GoMoney has filed an application with the Banco Central do Brasil (BCB) for authorization to operate as a virtual asset service provider. In the meantime, while its application for full authorization is being reviewed by the BCB, GoMoney continues to operate under Brazil’s transitional regime for virtual asset service providers, the release said.

For Yellow Card clients, the acquisition of GoMoney adds local collections and disbursements in Brazilian reais, including through Pix, and settlement in stablecoins, delivered through a locally established provider and integrated with the treasury and liquidity services offered by Yellow Card, per the release.

Yellow Card supports more than 50 currencies and recently received regulatory approvals and registrations in Canada, Switzerland, Nigeria, Ghana and Zimbabwe, per the release.

“Building global financial infrastructure requires compliance with local frameworks, local payment rails, and local expertise and relationships to operate effectively,” Yellow Card Co-Founder and CEO Chris Maurice said in the release. “GoMoney has built a strong foundation in Brazil over the last eight years, and bringing our businesses together will allow us to deliver greater value to customers while accelerating our long-term ambitions.”

GoMoney will continue to be led by its founders, as a wholly owned subsidiary of Yellow Cars, according to the release.


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