Circle has teamed up with Yellow Card, an Africa-based crypto exchange, to launch a Naira payout so that Nigerians can receive payments in Naira through the Circle Payments Network (CPN). According to the announcement, Yellow Card is facilitating these payouts.
With this update, users and businesses in Nigeria can now enjoy faster and cheaper local payments. According to Circle’s tweet, possible uses include “remittances, payroll, gig economy payments, and trade finance.”
The payouts work by converting USDC, Circle’s dollar-backed stablecoin, directly into Naira through Yellow Card. When a business or individual sends USDC using CPN, Yellow Card receives the stablecoin and instantly converts it to Naira, which is then delivered to the recipient.
This is coming just months after Yellow Card joined 25 other payment platforms as part of Circle Payments Network. The network brings together banks, digital wallets, payment service providers, and virtual asset platforms to enable real-time, cross-border payments using stablecoins.
According to Circle, “CPN marks the next chapter in Circle’s evolution, extending beyond trusted stablecoins and developer platforms to power a globally connected payments network.”
Yellow Card’s inclusion in the network means Nigerians can now receive digital payments in Naira quickly, safely, and without relying on slow traditional systems.
Other partners in the Circle Payments Network include companies like Onafriq, Zepz, CoinMENA, dLocal, Triple-A, and Alfred Pay. These platforms work together to connect different financial systems across the world, making it easier to move money across borders.
Also Read: FIS Partners With Circle to Bring Stablecoin Payments to U.S. Banks
