Yellow Card now owns GoMoney, a Brazilian firm, so clients can pay in reais and settle in stablecoins. Full central bank approval is still pending.
Yellow Card, a company that moves money across borders using stablecoins, has bought GoMoney, a Brazilian crypto payments firm. The deal closed in October and was announced Wednesday, Nov. 4. It gives Yellow Card its own operations in Brazil. Stablecoins are digital tokens designed to hold a steady value, often tied to the US dollar.
Yellow Card clients can now collect and send payments in Brazilian reais, including through Pix, and settle them in stablecoins. A local provider handles this, and it connects to Yellow Card's treasury and liquidity services. Yellow Card says it supports more than 50 currencies.
GoMoney becomes a wholly owned subsidiary and will still be led by its founders. CEO Maurício Pires said the company's use of stablecoins for cross-border payments is similar to what Yellow Card does in Africa and globally. Yellow Card CEO Chris Maurice said GoMoney has built a strong foundation in Brazil over the last eight years.
GoMoney has applied to Brazil's central bank, the Banco Central do Brasil, for authorization as a virtual asset service provider. The review is not finished. Until then, GoMoney operates under Brazil's transitional regime for such providers.
The release does not say when the approval might come. It also does not give the price of the deal, fees for clients, or a start date for the new services. Businesses that pay or sell in Brazil should ask about those details directly.
Yellow Card now has a Brazilian arm for stablecoin payments, but it still waits on central bank approval and has not shared fees or timing.
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