Today, Tala and Visa announced a new partnership that will look to bring blockchain solutions to emerging markets and expand access to financial services. Together with SDF and Circle, the organizations will explore opportunities to make it easier for underbanked consumers to convert, store, and use digital assets.
By integrating with Circle and Stellar, Tala customers will have access to USDC in Tala’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. The partnership will also enable Tala to offer Visa cards linked to Tala’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.
“I am thrilled to see Tala and Visa forge this partnership to leverage the power of the Stellar network and Circle’s world class USDC stablecoin to empower underbanked populations with fast and affordable financial tools and services,” said Denelle Dixon, SDF’s CEO and Executive Director.
“Digital currencies have tremendous potential to radically open financial access and put more control directly into the hands of underbanked and underestimated people. We couldn’t be more excited that Visa, Circle, and the Stellar Development Foundation share our vision and want to work on a solution, not only for Tala’s 6 million global customers but for the billions more who can benefit,” said Shivani Siroya, Tala’s CEO and Founder.
“Tala is a pathbreaker at the forefront of a new generation of financial services that provide greater access to economic opportunities for the historically underbanked,” said Circle Co-Founder and CEO, Jeremy Allaire. “We are proud to be working alongside Visa and the Stellar Development Foundation to bring the power of dollar digital currency to millions of Tala customers around the world.”
“Digital currencies like USDC have the potential to extend the value of digital payments to a greater number of people and places,” said Cuy Sheffield, Visa’s Head of Crypto. “We’re excited to partner with Tala’s global team to bring the benefits of the crypto economy to the populations that need it most.”
SDF looks forward to working alongside Tala, Visa, and Circle to make digital assets easier to access and use, and continue to build solutions that prioritize financial inclusion for all.