Yolat
African-founded cross-border fintech licensed on both sides of the Atlantic — blockchain-rail transfers between Canada, the UK and African corridors, with AI-driven routing and compliance.
Cross-border account for Africans and African businesses — earn, hold, send and pay across borders; licensed as FINTRAC MSB + Bank of Canada RPAA PSP, with a CBN IMTO for Nigeria inflows.
- Who holds it
- A licensed crypto-asset custodian holds the assets on your behalf — FINTRAC MSB + Bank of Canada RPAA PSP (CA); IMTO (CBN, NG).
- The ledger
- The custodian’s books, reconciled against on-chain balances.
- If it fails
- Recovery hinges on the custodian’s solvency and how cleanly client assets are segregated.
Derived from Yolat’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional · immigrants & migrants |
| HQ | Lagos, NG |
| Founded | 2024 |
| Custody | Custodial |
| Regulation type | VASP / MSB / crypto licenses |
| License detail | FINTRAC MSB + Bank of Canada RPAA PSP (CA); IMTO (CBN, NG) |
| Card | No card |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Africa |
| Countries | Canada, Nigeria, Kenya, Ghana, South Africa, United Kingdom |
| Founders | Toyosi Abolarin |
Verified links: official site ↗ · @callyolat ↗
Common questions about Yolat
What is Yolat?
Yolat is a fiat neobank built for immigrants & migrants, headquartered in Lagos, NG and founded in 2024. Your money is held custodially, so Yolat or its partner bank holds the balance and you hold a claim on it. It holds VASP / MSB / crypto licenses (FINTRAC MSB + Bank of Canada RPAA PSP (CA); IMTO (CBN, NG)).
Does Yolat have a card, and where can you use it?
It issues no card of its own. It is available in 6 countries, across Africa.
Does Yolat require KYC?
Yes. Yolat requires identity verification (KYC) to open an account, as a vasp / msb / crypto licenses.
Peers
Wise · TymeBank · OPay · PalmPay · Bank Zero · Discovery Bank
Yolat appears in
Neobanks operating under crypto and money-transmitter licenses (25) · Neobanks available in Africa (92) · Neobanks for immigrants and migrants (9) · Neobanks with no card of their own (67) · Neobanks in Nigeria (15)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.