Yellow Card lands $40 million to scale stablecoin rails

Yellow Card just pulled in $40 million in strategic funding, and the investor list reads like a who’s who of institutions that have decided stablecoins aren’t a phase. SC Ventures, the venture arm of Standard Chartered, Sony Innovation Fund, Polychain Capital, and Blockchain Capital all participated in the round, which closed on August 4. The raise brings Yellow Card’s total equity financing past the $120 million mark. What Yellow Card actually does Yellow Card’s pitch is straightforward. Cut the middlemen. Connect banks directly to stablecoin infrastructure. The company’s flagship offering, Global USD Accounts, gives businesses a dollar-denominated account with stablecoin functionality baked in. The numbers suggest the model is working. Yellow Card has processed over $10 billion in transaction volume across more than 50 currencies. It holds licenses in 22 jurisdictions. CEO Chris Maurice has framed the company’s strategy around a specific pain point: businesses in developing economies need reliable access to dollars, and the legacy correspondent banking system is particularly bad at delivering that. Stablecoins, routed through proper infrastructure, solve the problem at a fraction...