Yellow Card has established direct operations in Brazil through an October acquisition of GoMoney Sociedade Prestadora de Serviços de Ativos Virtuais Ltda. (GoMoney), adding local payment services with stablecoin settlement.
The service lets customers collect and pay out Brazilian reais locally, including through Pix. Transactions settle in stablecoins. The transaction price was not disclosed.
Founded in 2018, GoMoney will remain a wholly owned Yellow Card subsidiary led by its founders.
GoMoney has filed for virtual asset service-provider authorization with Banco Central do Brasil (BCB), Brazil’s central bank. It continues operating under Brazil’s transitional regime while the application awaits review and approval.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to [email protected].
