In a bold step toward reshaping cross-border payments, Swiss fintech company Centi has partnered with pan-African cryptocurrency exchange Yellow Card.

This partnership allows Centi users in Europe to seamlessly transfer funds to 20 African nations, significantly expanding its reach from eight countries previously.

By leveraging cryptocurrency and digital wallets, the collaboration aims to deliver faster, cheaper, and more transparent remittance services for millions across Africa.

A New Era of Cost-Effective Transfers

Historically, African migrants sending money home have faced high transfer fees and unfavourable exchange rates. Traditional remittance providers charge as much as CHF 15 (Ksh 2,199) to send CHF 100 (Ksh 14,657), cutting deeply into the funds intended for loved ones.

However, the Centi-Yellow Card partnership is a game-changer, offering transfers for as little as CHF 2 (Ksh 293). This substantial reduction, approximately 85% cheaper, allows senders to stretch their financial support further, bringing relief to families and small businesses across the continent.

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According to Bernhard Müller, CEO of Centi, the partnership represents a deliberate move to disrupt an inefficient system.

“For too long, migrants have been forced to accept terrible exchange rates and hidden costs that take from their families,” Müller remarked. “We are not just another remittance provider; we are here to empower senders to save and send more joy back home.”

Seamless Integration with Local Currencies

The mechanics behind this streamlined process are powered by Yellow Card’s robust crypto-fiat onramp and offramp infrastructure. Users in Switzerland can convert their Swiss francs into cryptocurrency and store them in Centi-issued non-custodial wallets.

From these wallets, they can transfer funds directly to recipients in supported African nations, who receive payments in their local currencies. This integration covers major markets including Nigeria, Ghana, Kenya, and South Africa, ensuring a broad and meaningful impact.

Through partnerships with MTN, Airtel, and M-Pesa, the service reaches over 350 million mobile money customers. Additionally, funds can be sent directly to over 100 African banks, providing users with flexible and accessible options to receive money.

Chris Maurice, CEO and Co-founder of Yellow Card, highlighted the transformative potential of the collaboration. “By integrating with Centi, we are expanding our footprint and enabling stablecoin-based transfers to Africa that are instant, transparent, and secure,” he said.

Expanding Reach Across Africa

Yellow Card’s growing presence across the African continent has been fuelled by significant investments and strategic alliances. In October 2024, the company raised $33 million in equity financing, propelling its expansion and operational capacity. Since then, transaction volumes have surged from $1.7 billion to over $3 billion, reflecting increasing demand for low-cost digital remittances.

This growth has also enabled Yellow Card to enter new territories. The exchange now operates in 20 African countries, including:

• Nigeria
• Kenya
• South Africa
• Ghana
• Uganda
• Zambia
• Tanzania
• Rwanda
• Botswana
• Côte d’Ivoire

The company’s continued innovation includes partnerships with major global players like Coinbase and Block, as well as a December 2024 agreement with LightSpark to enable instant, low-cost Bitcoin transfers.

Why This Partnership Matters

The Centi-Yellow Card partnership marks a turning point for African remittances. Beyond offering lower costs and faster transactions, it empowers African communities by eliminating the reliance on intermediaries and foreign currencies.

This direct crypto-to-cash system enhances financial autonomy and provides millions with access to modern payment technologies.

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For African migrants, the emotional value is equally significant. As Bernhard Müller puts it, “Many of our users translate these savings into sending some extra joy to a loved one back home, and for us, it is all about making that difference.”

By utilizing cutting-edge financial technology, Centi and Yellow Card are not only facilitating seamless money transfers but also driving financial inclusion and economic empowerment across Africa.

This collaboration exemplifies how fintech innovation can address longstanding challenges and create tangible, positive impacts on people’s lives.