The Stellar Development Foundation, Visa, and payment technology company Circle announced they will jointly partner with the Tala company that aims to increase the use of crypto in developing countries.
The announcement was made by California -based fintech firm Tala on May 6, 2021. Tala CEO Shivani Siroya claimed that digital assets have the potential to solve the financial problems facing the mainstream financial system.
According to Siroya, this is good news for their firm as now Tala, Visa, Circle, and Stellar Development Foundation share the same vision to offer alternatives not only to Tala’s 6 million users but also to the public.
Circle founder and CEO, Jeremy Allaire, noted that;
"Tala will be an early leader in a new generation of financial services that provide greater access to economic opportunities for the less fortunate."
With the latest collaboration, Tala will allow their users to use stablecoin USD Coin (USDC) to make transactions.
Tala also offers small unsecured loans to, namely; those who do not have access to bank accounts in Mexico, Tanzania, Kenya, and India. According to the report, the company has lent money to more than four million customers so far.
At the time of writing the price of Stellar has risen over 10% to the price level of $ 0.6442 per unit.
