Fintech startup Tala, in cooperation with the Visa payment system, will provide customers with the opportunity to use the USD Coin (USDC) stablecoin to pay for goods and services.
Tala is thrilled to team up with @Visa, @circlepay and the @StellarOrg to bring cryptocurrency solutions to the underbanked. Together, we’ll explore opportunities to make it easier for consumers to convert, store, and use USDC. https://t.co/5u290hyduO
– Tala (@talamobile) May 5, 2021
Additional partners of the initiative were the blockchain company Circle and the non-profit organization Stellar Development Foundation. This will enable Tala customers to store USDC in their digital wallets.
The participation of the international payment system will allow the startup to issue cards linked to the account in the application. Users will be able to spend stablecoins from their balance at any of the 70 million merchant and service points that support Visa.
According to the press release, the offer is targeted at emerging markets. Tala serves over 6 million customers in countries such as Mexico, the Philippines, Kenya and India.
As a reminder, in December 2020, Visa connected its global network to the USDC. The company promised to issue a card that allows merchants to accept stablecoin as a means of payment.
In March 2021, Visa and cryptocurrency service Crypto.com launched a pilot program to integrate payments into USDC.
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