Data Mynt has announced a strategic partnership with Yellow Card Financial that allows merchants and platforms across Africa to accept and send payments in digital assets in person and online, settle immediately, and now withdraw funds directly to their mobile money or bank accounts in local currency through Yellow Card Financial.
“Yellow Card’s technology allows Data Mynt merchant and platform customers across Africa to settle payments with their mobile money and bank accounts, enabling funds to flow from a shopper’s digital asset wallet into the merchant’s Data Mynt wallet and onto the merchant’s preferred mobile money or bank account,” Data Mynt stated in its press release.
According to the statement, Data Mynt’s digital asset checkout and payments infrastructure allows merchants and other businesses across Africa to use a lower-cost, efficient and safer way to transact with 300 million crypto owners, pay suppliers or teams anywhere in the world, and settle funds from the digital asset ecosystem directly into their mobile money and bank accounts.
Furthermore, because Africa has over 40 different distinct currencies, it can be difficult and expensive to convert between them.
Alex Christian, Data Mynt Co-Founder commented saying, “We have been planning a launch in sub-Saharan Africa, and partnering with Yellow Card makes sense given the incredible job they’re doing driving rapid adoption of crypto across the continent. Cryptocurrency was always meant to be used like actual money, and nowhere has this been more successful than in Africa. By partnering with Yellow Card, we can rapidly expand our services to Africans and make it leaps and bounds easier to use digital assets when buying and selling goods and services. Data Mynt and Yellow Card are making cryptocurrency easier and better in Africa.”
“Our vision at Yellow Card is to power the entire crypto industry across the African continent. We want to work with anyone that has a desire to spread access to this technology to anyone. We’re excited to partner with Data Mynt to further the reach of this tech,” Chris Maurice, CEO, and co-founder of Yellow Card also commented.
The statement further read that, Data Mynt allows shoppers to pay in one of many digital assets across 8 blockchains, which is automatically converted into a stablecoin without price volatility. In this way, merchants and platforms in Africa who use Data Mynt’s technology side-step some of the biggest hurdles to businesses including declines, volatility, and settlement time.
Yellow Card has been rapidly growing in popularity over the past few years, expanding its services to all corners of Africa while driving and capturing a growing market share of African cryptocurrency users.
It has long been said that Africa is a cryptocurrency continent, and Yellow Card’s blossoming user base and community is proof of the excitement surrounding digital assets in this part of the world. In Africa, cryptocurrency is often used as actual currency, and Yellow Card has made the on and off-ramp into the world of crypto easier than ever for Africans. Now, Data Mynt is making the connection between decentralized finance and traditional commerce more seamless than ever.
Data Mynt has been progressively expanding its services to new merchants and territories this year, with platforms and merchants gaining access to Data Mynt’s solutions in 10 countries across 5 continents.
Data Mynt has also added more blockchains and digital assets to the roster of supported currencies, allowing their users to pay with popular blockchains and wallet ecosystems such as Binance Chain, Tron, Ethereum Mainnet, Polygon, Solana, and Bitcoin Lightning Network coins such as BTC, ETH, USDC, Tether, MATIC, SOL, DOGE, and BNB, to name a few.