VISA has embraced cryptocurrencies in the ongoing year. The company has announced several new crypto projects in the course of the past few months. The users of VISA can now use Bitcoin and other digital assets to settle payments on the dashboard. As the digital payments giant is rapidly evolving its crypto vision for the ongoing year, exciting affiliations and partnerships for facilitating crypto expansion keep increasing.
The largest payment facilitator in the world has recently started a new crypto project with Tala, Stellar, and Circle. Tala Inc. is an online micro loaning service that provides easy credit facilities for users without the intervention of central banks via mobile application. The user of Tala can apply for a credit ranging from $50 to $200 without having any prior credit score records. The Circle is a peer-to-peer payments service provider that has introduced USDC stablecoin. USDC uses Stellar as the blockchain ecosystem.
Stellar (XLM) is Gaining Visible Momentum after the VISA Announcement
The new affiliation of VISA with Circle and Tala is focused on increasing user access in crypto payments on a mainstream level. The Tala, in cooperation with Circle, would enable unbanked access to USDC in a digital wallet. Meanwhile, VISA would issue credit cards that are connected to these digital wallets and offer shopping funds with a crypto balance to about 70 million merchants worldwide.
These developments have started to push XLM skywards. During the last 24 hours, XLM has increased by 0.65% after a 13.4% surge. According to a trader Pentoshi, the token has started to break out of the 680 days stagnant range. He claims that when crypto breaks out of the multi-year range, it is bound to outperform all the market expectations.
What the Executive Brass at Tala, Stellar, VISA, and Circle have to say about the Current Venture?
Shivani Siroya, CEO at Tala, said that the main goal of the recent business venture is to make remittance more convenient by decreasing the transaction fees to a minimum. Tala consumers would be able to engage in cross-border crypto and fiat-to-crypto services in India, Mexico, Kenya, and other major economies in Asia. Denelle Dixon, CEO at Stellar Development Foundation, claims that the enterprise believes that financial independence should be a right, not a privilege.
She further added that with this business partnership, the company is moving ahead with its mission to transform the financial system to have equitable access at a global scale. Meanwhile, Cuy Sheffield, the head of the crypto at VISA, opines that the enterprise is excited to expand to a whole new market range where it could cater to the consumers who do not have access to financial services readily available.
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