Payments giant Visa and financial services provider Tala have partnered to boost cryptocurrency adoption in emerging markets. The collaboration aims to â€œmake it easier for underbanked consumers to convert, store, and use cryptocurrencies.â€
Visa and Tala Boosting Crypto Adoption in Emerging Markets
Tala is â€œa financial technology company on a mission to enable and accelerate financial health for all,â€ its website details. The companyâ€™s Android app â€œoffers instant credit and personalized financial education,â€ the company noted, adding that it has delivered more than $2 billion in credit to more than 6 million customers across Mexico, the Philippines, Kenya, and India.
There are two additional partners for the project â€“ Circle and the Stellar Development Foundation â€“ that â€œwill bring the benefits of the digital currency ecosystem to emerging markets,â€ the announcement notes, adding:
The company detailed that â€œThrough Talaâ€™s integration with Circle and Stellar, Tala customers will have access to USDC in Talaâ€™s digital wallet, enabling secure and stable storage of money, fast and affordable cross-border money transfers, and easy exchange into other digital assets or local fiat.â€
Furthermore, â€œTalaâ€™s partnership with Visa will enable Tala to offer Visa cards linked to Talaâ€™s digital wallet, giving customers a seamless way to spend against their USDC balance at any of the 70 million merchants worldwide that accept Visa,â€ the company clarified.
Visaâ€™s head of crypto, Cuy Sheffield, commented: â€œDigital currencies like USDC have the potential to extend the value of digital payments to a greater number of people and places.â€ He opined:
What do you think about Visa and Tala driving crypto adoption in emerging markets? Let us know in the comments section below.
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