Visa has partnered with fintech startup Tala to drive crypto adoption for underbanked customers in emerging markets.
- The companies will begin by providing access to USD coin (USDC), the stablecoin backed by the U.S. dollar, according to an announcement Wednesday.
- Collaborating with USDC operator Circle and the Stellar Development Foundation, Tala will provide access to USDC via its digital wallet.
- Visa’s involvement will give Tala the ability to issue payment cards linked to the wallet.
- Tala is a California-based startup that says it has provided over $2 billion in credit to over 6 million customers in countries such as Mexico, the Philippines, Kenya and India in the form of micro-loans.
- The company has raised over $200 million in funding, including a $110 million Series D in August 2019, with PayPal among its backers.
- Visa confirmed the partnership when contacted by CoinDesk.