Tala and Visa have announced a partnership that they claim will help the underbanked population participate in the crypto economy.
Tala's partnership with the card scheme will enable the firm to offer payment cards linked to its digital wallet, giving customers a way to spend against their USDC balance at any of the 70 million merchants worldwide accepting Visa.
Visa in March became the first significant payments network to settle transactions in USD Coin (USDC), a stablecoin backed by the US dollar.
Tala has a presence in 4 countries; Mexico, the Philippines, Kenya, and India have delivered more than $2 billion in credit to more than six million customers in those countries.
Santa Monica-based Tala also partnered with the Circle and the Stellar Development Foundation. The partnership is intended to enable secure and stable storage of money, fast and affordable cross-border money transfers, and easy exchange into other digital assets or local fiat.
"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 six million global customers but for the billions more who can benefit." Shivani Siroya, Tala's CEO and founder.
Speaking on the partnership, Tala's CEO and founder stated that "Digital currencies have tremendous potential to radically open financial access and put more control directly into the hands of underbanked and underestimated people."