Yellow Card Expands to Canada via Alkepay Subsidiary

In Short

• Yellow Card has expanded into Canada through a new subsidiary called Alkepay Inc.
• Alkepay is registered with FINTRAC as a Money Services Business and with the Bank of Canada as a payment service provider.
• The move adds foreign exchange dealing and cross-border funds transfers for clients.

What Happened

Yellow Card said it is now live in Canada, extending its stablecoin infrastructure into North America.

The expansion runs through Alkepay Inc., a wholly owned subsidiary. Alkepay is registered with the Financial Transactions and Reports Analysis Centre of Canada, also known as FINTRAC. It is also registered with the Bank of Canada under the Retail Payments Activities Act, a framework that sets rules for payment providers.

Through Alkepay, the company can offer foreign exchange dealing and cross-border funds transfers. Foreign exchange dealing means converting one currency to another. Cross-border funds transfers means moving money between countries.

Yellow Card said it supports over 50 currencies and reaches more than 190 countries through USD wire transfers and stablecoins, which are crypto tokens designed to track the value of a fiat currency like the US dollar. The company also said it has processed more than $10 billion in volume and works with more than 65 active banking partners.

Why It Matters

For African businesses and global firms that pay into or out of African markets, Canada matters because it is a large corridor for trade and diaspora-linked payments. A regulated presence can also reduce friction when onboarding institutional customers that require strict compliance checks.

This move also signals Yellow Card’s broader shift from a pan-African footprint to a wider global build-out. The company has recently made strategic hires in Latin America and Southeast Asia, and earlier announced compliance steps for its Swiss virtual asset services operations.

Stablecoins are becoming a bigger part of cross-border payments because they can settle faster than traditional bank transfers. Yellow Card’s Canada entry adds another regulated base to connect bank rails, stablecoins, and FX conversion across regions.