According to sources, Tala and Visa have partnered to offer users a variety of services meant to better their experience with the two service providers.
Tala Partners With Visa: Credit Cards and Cryptocurrency
Visa today announced a new partnership with Tala, to provide easier access to Cryptocurrency for underhanded consumers. The process is will begin with the USD Coin (USDC). This is a stable-coin by the U.S. dollar and governed by the Centre Consortium.
The coin supports Ethereum, Algorand, Solana and Stellar blockchains. According to Visa, Tala’s customers will gain access to:
- USDC in Tala’s digital wallet
- Supporting asset storage
- Cross-border transfer (The World Bank estimates the average percentage transaction fee for cross-border remittances to be around 6.51% as of the fourth quarter of 2020.)
- Crypto-fiat exchange functionalities.
Tala’s CEO Shivani Siroya says the primary use case that Tala is hoping to drive with the crypto offering is lowering the cost of remittances for its customers.
The partnership with Visa will provide Tala with the ability to issue Visa cards linked to the wallet. This will also enable Tala’s customers to spend against their USDC balance at any merchants worldwide that accept Visa.
Tala has given over $2 billion in credit to more than 6 million customers across different countries. I.e Mexico, the Philippines, Kenya and India.