Tribal partners with Visa to expand its offerings in Latin America

Thanks to the partnership, many countries of the continent will receive credit cards in local currencies

01.03.2022 - 10:10

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What’s new? Tribal Credit, a company specializing in cryptocurrency payments and financing startups with advanced cost control, has partnered with Visa. This collaboration will impact the expansion of financial tools for small and medium-sized businesses in Latin America.

Information on the Reuters website

Which countries are included? The collaboration with the payment platform will allow Tribal to offer credit cards in local currencies across Latin America. This includes Brazil, Mexico, Argentina, Chile, Panama, Colombia, Uruguay, Peru, and the Dominican Republic. In addition, the company’s representatives said that their priority task is to provide credit services in the states of Peru, Chile, and Colombia.

What is known about the partners? To provide a cross-border payment service, Tribal partnered with the Stellar Development Fund and the Latin American cryptocurrency exchange Bitso in December 2021. The company uses Stellar’s stable currency, USD stablecoin, for this purpose.

Visa has expanded its reach into the crypto space and has even developed a project to interface with blockchain for the optimal processing of payments in digital currency. The project, called “Universal Payment Channel,” aims to create a blockchain interoperability feature to streamline digital currency across multiple chains.

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