Circle taps ex-Yellow Card executive Gillian Darko to lead Africa expansion

Circle Internet Group, the NYSE-listed issuer of the stablecoin USDC, has appointed Gillian Darko, a former executive at Yellow Card, as Vice President and Head of Africa. This move aims to deepen Circle's expansion into Africa's growing digital payments market, facilitating stablecoins' use in cross-border payments, remittances, and business transactions.

Darko, who joined Yellow Card in 2024, held key roles in shaping the company's commercial expansion and partnerships with banks and global financial institutions. Her appointment comes as Circle seeks to capitalize on the increasing demand for faster and cheaper international transactions in Africa, where fragmented payment systems and currency volatility have created opportunities for digital asset providers.

However, African regulators are tightening oversight of foreign stablecoin issuers, with Nigeria proposing rules requiring regulatory recognition and Kenya's framework giving the Central Bank authority to suspend or delist non-compliant stablecoins. Between 2022 and 2026, stablecoin transfers through peer-to-peer channels in Sub-Saharan Africa surged more than sixfold to $14.6 billion.

Circle has been expanding its partnerships across Africa, including a recent collaboration with Sasai Fintech and a venture investment in Nigerian payments company Flutterwave. Darko's transition from Yellow Card to Circle positions her at the forefront of the competition to connect African financial institutions to dollar-denominated digital assets, while navigating regulatory requirements that could impact the widespread adoption of foreign-issued stablecoins in key African markets.