Yellow Card buys Brazilian crypto firm GoMoney to enter Latin America

Yellow Card, the stablecoin payments company that operates in Nigeria, has acquired a Brazilian virtual asset firm, GoMoney, as it pushes into Latin America.

The company announced the deal on Thursday, November 5. It gives Yellow Card direct operations in Brazil for the first time.

GoMoney, founded in 2018 and based in São Paulo, will keep running as a wholly owned subsidiary of Yellow Card under its founders.

For Nigerian businesses that trade with Brazil or send money across borders, the deal could mean another route for settling payments. Yellow Card says clients will be able to collect and pay out money in Brazilian reais through Pix, Brazil's instant payment system, and settle in stablecoins.

What the two sides said

Chris Maurice, co-founder and chief executive of Yellow Card, said building global financial infrastructure means working within local rules and local payment systems.

"Building global financial infrastructure requires compliance with local frameworks, local payment rails, and local expertise and relationships to operate effectively,"

he said, according to the company's announcement.

Maurício Pires, GoMoney's founder and chief executive, said the firm had spent eight years building a business around stablecoins for cross-border payments, and that joining Yellow Card would help it grow in Brazil and across Latin America.

Licence still pending

GoMoney has applied to the Banco Central do Brasil, Brazil's central bank, for authorisation to operate as a virtual asset service provider. The application is still under review and has not been approved.

Until then, the company continues to operate under Brazil's transitional rules for virtual asset providers.

The acquisition comes about three months after Yellow Card raised $40 million in financing in August 2026, with money from Standard Chartered Bank and Sony among the investors.

Yellow Card says it already holds regulatory approvals or registrations in Canada, Switzerland, Nigeria, Ghana and Zimbabwe, and supports more than 50 currencies.

Brazil is Latin America's largest crypto market. According to blockchain analytics firm Chainalysis, the country recorded $252.5 billion in cryptocurrency activity between July 2025 and June 2026, and stablecoin activity there rose 495 per cent over its 2024 to 2026 comparison period.

Yellow Card has been building its African base too. In May 2026 it partnered with Mastercard to promote stablecoin-powered payments across Africa, with Nigeria among the focus markets.

What happens next

The main thing to watch is Brazil's central bank decision on GoMoney's licence application. Approval would let the business operate fully under the new virtual asset rules; until then it stays on the transitional framework.