We’re thrilled to announce that Visa is partnering with Tala, a leading digital financial services provider in emerging markets, with support from Circle and Stellar to make it easier than ever to store and transfer value using USDC.
Tala helps under- and unbanked people around the world access the crypto economy, taking advantage of the improved speed and security of blockchain networks and removing barriers to the convenient flow of value. More than 3 billion people have limited or no access to services to borrow, save, or grow their money; Tala’s partnership with Visa and Circle will help bring equitable financial tools to a massive underserved population.
“Since our start seven years ago, Tala has been a leader in leveraging data and next generation mobile technology to solve the seemingly intractable problem of financial inclusion,” Tala Founder and CEO Shivani Siroya said.
“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.”
By coordinating with Visa, Tala will be able to offer payment cards linked to Tala accounts that can be settled using USDC across public blockchains like Stellar.
“Digital currencies like USDC have the potential to extend the value of digital payments to a greater number of people and places,” Visa Head of Crypto Cuy Sheffield said.
“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.”
Storing value in USDC will also help insulate value from inflation or other local currency risks, helping put users on an even footing within the emerging global digital economy.
“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,” Circle Co-Founder and CEO Jeremy Allaire said.
“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.”