Yellow Card has expanded its operations into Canada, extending its footprint into North America through the launch of Alkepay Inc., a wholly owned subsidiary. The Yellow Card Canada expansion adds foreign exchange dealing and cross-border funds transfer services to the company’s growing global network and marks another step in its transition from a pan-African business to a broader international infrastructure provider.
Alkepay is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Services Business and is also registered with the Bank of Canada as a payment service provider under the Retail Payments Activities Act. Through this entity, Yellow Card can now support clients with regulated payment and foreign exchange services in Canada.
The expansion into Canada is built on the launch of Alkepay, which serves as Yellow Card’s regulated operating vehicle in the market. According to the company, the new entity enables foreign exchange dealing and cross-border funds transfer services for clients, strengthening its ability to support institutional and business payment needs.
Chris Maurice, CEO and Co-Founder of Yellow Card, said the company has established itself as a trusted stablecoin provider through partnerships with organizations such as Visa, Mastercard, Western Union, Thunes, and MoneyGram. He noted that the same infrastructure and operational approach that support those relationships will now be extended into North America.
Lasbery Chioma Oludimu, Vice President of Global Operations, highlighted the operational work required before entering a new market, including connecting banking partners, testing settlements, and addressing local requirements. She stated that Canadian clients will receive the same reliability and speed that Yellow Card provides in its existing cross-border payment markets.
Global Expansion Backed by Scale and Stablecoin Growth
The Canada launch comes as Yellow Card continues a broader international expansion strategy. In recent months, the company has made strategic hires across Latin America and Southeast Asia as it works to establish a stronger presence in those regions. Earlier in the year, its Swiss virtual asset service provider, StaaS Fintech Services SA, became affiliated with SO-FIT, a self-regulatory organization recognized by FINMA, creating a supervised access point for institutional and corporate clients.
The expansion also aligns with continued growth in the global stablecoin sector. According to industry estimates cited by the company, annual stablecoin transaction volume surpassed $33 trillion in 2025, while total market capitalization is projected to exceed $2 trillion by the end of 2028.
Yellow Card’s operational scale reflects its ambition to participate in that growth. The company reports more than $10 billion in processed volume, over 65 active banking partners, and reach into more than 190 countries through USD wire transfers and stablecoins. It also supports payments and money movement across more than 50 local currencies.
With the launch of Alkepay in Canada, Yellow Card has added a North American presence to its expanding global network, extending regulated access to its stablecoin-powered infrastructure while continuing its international growth strategy.