Stellar will power Visa’s latest partnership which will bring more ways to leverage digital assets in the payments platform. XLM surged on the news immediately as we can see more in our latest Stellar news today.
Stellar follows a general market sentiment that has some green indicators across the board and the XLM price is now positively reacting to the increase in the USD coin liquidity on the blockchain. The Stellar Development Foundation made a groundbreaking announcement. Alongside Circle, Tala, and visa, one of the companies behind USDC, the corporation wants to provide more access to digital assets in the emerging markets and Tala will enable unbanked users to access the stablecoin in the digital wallet.
XLM breaking multi-year range. Source Pentoshi
they will also be able to make cross-border transactions and get access to fiat-crypto services and in addition, Visa will issue cards with the funds linked to the wallet. In doing so, the users will have the capacity to spend their crypto balance in more than 70 million merchants around the world. Visa doubled down on the crypto strategy in 2021 and it seems that more new integrations are about to come. The company explores new ways to leverage the digital assets on the payment platform and the head of Visa’s department Cuy Sheffield said:
“(…) we’ve been really interested to see how they could have the potential to help consumers in markets where they don’t have great access to financial services.”
Shivani Siroya, Tala’s CEO said that the main goal of the company is for people to send remittances at a low cost, and the Santa Monica-based company having clients in Kenya, India, Mexico and other countries means that the number of users will be huge. The corporation with the SDF, Visa, and Circle, is the first jump in the crypto space as SDF’s CEO Denelle Dixon said:
“By working with innovators like Tala mobile, Visa, Circle who share our vision that financial inclusion is a right, not a privilege, we can bring the benefits of tech to emerging markets & take a step closer to our mission of equitable access to the global financial system!”
XLM moving sideways in the daily chart. Source XLMUSDT Tradingview
Stellar will power Visa’s partnership and right after this was announced, XLM reacted positively and increased by 13.4% in the daily charts. In the higher timeframes, the cryptocurrency seems bullish with a 31.7% and a 23.4% rally. The trader known as Pentoshi took a long position and said that XLM’s rally went unnoticed after it managed to get out of the 680-range:
“XLM beginning its breakout. There’s little to no resistance built because of the inefficiencies on the moves shown. Probably goes higher than people think because of the 680-day range. Holders outperform traders.”