Yellow Card Acquires Brazilian Virtual Asset Service Provider GoMoney

TechFlow reported on November 4 that, according to a Yellow Card announcement, stablecoin payment infrastructure provider Yellow Card completed its acquisition of Brazilian virtual asset service provider GoMoney in October and established a direct business presence in Brazil.

Following the acquisition, Yellow Card customers will be able to access Brazilian real local payment collection and disbursement services, including Pix, as well as stablecoin settlement services through the local provider. Founded in 2018, GoMoney will continue to be led by its founding team as a wholly owned subsidiary of Yellow Card.

GoMoney has applied to the Central Bank of Brazil for a virtual asset service provider license and is currently operating under a transitional regime, while its formal application remains pending review and approval by the central bank.

Source: TechFlow