Yellow Card has expanded into Canada through its wholly owned subsidiary Alkepay, which is registered with FINTRAC and the Bank of Canada.
According to the official press release, the entity is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Services Business and is also registered with the Bank of Canada as a payment service provider under the Retail Payments Activities Act. Through Alkepay, Yellow Card now offers foreign exchange dealing and cross-border funds transfer services to clients in the country.
Regulatory registration underpins market entry
The Canadian launch follows a dual-registration process covering both anti-money laundering supervision, via FINTRAC, and payments oversight, via the Bank of Canada. This structure allows Alkepay to operate as a regulated channel for currency conversion and cross-border transfers, rather than relying solely on Yellow Card's existing stablecoin rails.
Chris Maurice, CEO and co-founder of Yellow Card, said the company has built partnerships with Visa, Mastercard, Western Union, Thunes, and MoneyGram to move funds for institutions and businesses internationally, and described the Canadian launch as an extension of that infrastructure into North America. In addition, Lasbery Chioma Oludimu, Vice President of Global Operations at Yellow Card, noted that each new market involves connecting banking partners and testing settlement processes before going live, and said Canadian clients will now have access to the same cross-border payment capabilities offered in the company's other markets.
Part of a broader geographic shift
The Canadian launch follows a period in which Yellow Card has moved from its original pan-African focus towards a broader international presence, including strategic hires in Latin America and Southeast Asia. Earlier in 2025, the company's Swiss virtual asset service provider, StaaS Fintech Services SA, became affiliated with SO-FIT, a self-regulatory organisation recognised by FINMA, providing institutional and corporate clients with a supervised entry point into its infrastructure. The Canadian entry extends this build-out into the region of North America.
