Stablecoins: Yellow Card acquires Brazilian firm GoMoney and extends payments to Brazil

Yellow Card, a stablecoin payment infrastructure provider, announced on November 4, 2026, the acquisition of GoMoney, a virtual asset service provider based in Brazil. The transaction, finalized in October 2026 according to the press release cited by PYMNTS, gives the company direct operations in Latin America's largest crypto market. The amount was not disclosed.

In practical terms, its clients will be able to collect and disburse funds in Brazilian reais, including via Pix, Brazil's instant payment system, with settlement in stablecoins handled by a local entity. This is the same mechanism already deployed on the African continent: converting and settling in digital currency backed by the dollar, where local currencies are volatile and banking channels are slow and expensive.

GoMoney, founded in 2018 according to Business Today, remains a wholly-owned subsidiary, led by its founders. Its CEO and co-founder, Maurício Pires, says he looks forward to "growing our business in Brazil and throughout Latin America." The company has filed an application with the Central Bank of Brazil for authorization as a virtual asset service provider under Law No. 14,478 of 2022, Business Today reports; the application is pending, and GoMoney is operating under the Brazilian transitional regime.

A fintech born in Africa that is investing elsewhere

Yellow Card says it supports more than fifty currencies and has recently obtained licenses in Canada, Switzerland, Nigeria, Ghana, and Zimbabwe. According to Business Today, the company raised $40 million in August 2026 from investors including Standard Chartered Bank and Sony. PYMNTS noted as early as November 2025 that the company, active in Africa and other emerging markets, was targeting Brazil, India, and Mexico.

"Building global financial infrastructure requires respecting local frameworks," explained co-founder and CEO Chris Maurice, who praised GoMoney's eight-year track record. Rather than building from scratch, the company is acquiring a license currently under review, as well as teams and a network of contacts.

The target market is significant: Brazil recorded $252.5 billion in cryptocurrency activity between July 2025 and June 2026, the highest volume in Latin America for that period, according to Chainalysis data cited by Business Today.

The deal is particularly significant for its strategic direction. Payment technologies proven in African corridors, where money transfers remain among the most expensive in the world, are becoming an export product. Business Today sees this as an opportunity for Yellow Card to expand beyond its historic African operations, while noting that the acquisition does not equate to a license: the Central Bank of Brazil has yet to make its final decision.