Pan-African fintech Yellow Card has announced plans to intensify the use of cryptocurrencies—particularly stablecoins—in francophone Africa, aiming to bridge the region’s digital finance gap amid the continent’s growing crypto enthusiasm.
Speaking during an online session on digital assets held on Tuesday, 24 June, Ines Lowe Sall, Deputy Regional Director for French-speaking West Africa at Yellow Card, acknowledged that despite significant progress across Africa, adoption in francophone countries remains relatively low.
“French-speaking African countries have a usage rate of stablecoins, cryptocurrencies backed by fiat currencies, between 10 and 20%,” said Lowe Sall.
This is in stark contrast to the broader continent, where stablecoins represented nearly 50% of the $117 billion in cryptocurrency transactions recorded between 2023 and 2024.
She attributed this disparity to the relative stability of the CFA franc—pegged to the euro—which reduces the incentive for consumers to seek alternative digital currencies.
“The CFA franc, which is pegged to the euro, remains relatively stable. Unlike the Nigerian naira, which is highly volatile, this is pushing English-speaking populations to use cryptocurrencies more, particularly for money transfers or informal dollarization,” she explained.
Still, Lowe Sall highlighted early signs of shifting sentiment.
“Merchants are really moving towards using stablecoins,” she noted, citing Senegal as a notable example.
This growing interest is attracting fintechs seeking faster, cheaper, and more efficient transaction methods.
On the regulatory front, Jefferson Iwengue, Yellow Card’s Regional Legal Advisor, emphasized the company’s proactive stance.
“We comply with the directives of states and regional institutions such as UEMOA or BCEAO,” he stated, adding that participation in high-level financial summits has helped the company anticipate legislative trends and engage in shaping the regulatory landscape.
Operating across more than 20 African countries, Yellow Card has positioned itself as a leading crypto platform on the continent.
With more than 90% of its francophone operations conducted through stablecoins, the fintech has processed over US$6 billion in transactions continent-wide.
This recent digital assets forum marks a significant step in Yellow Card’s strategy to support francophone Africa’s transition toward a more inclusive, digitally-driven, and resilient financial system.
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