Yellow Card acquires Brazilian virtual asset service provider GoMoney

According to a Yellow Card announcement, the company completed the acquisition of the Brazilian virtual asset service provider GoMoney in October, with the transaction amount undisclosed. GoMoney was established in 2018 and is headquartered in São Paulo. After the acquisition, it will continue to be operated by the founding team as a wholly-owned subsidiary of Yellow Card.

This acquisition allows Yellow Card to directly conduct business in Brazil for the first time, providing customers with local payment and receipt services in Brazilian Real, including Pix, and settling in stablecoins. GoMoney has applied to the Central Bank of Brazil for a virtual asset service provider license and will continue to operate under a transitional system during the approval period.