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Tala and Visa Use Circle and Stellar to Serve the Unbanked Communities

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Circle announced a new partnership that involves Tala, Visa, and the Stellar blockchain. The ultimate goal of the new partnership is to provide easier tools for storing and transferring value with USDC. The payment giant Visa plays a vital role in this partnership and provides the opportunity to attract more mainstream users. Tala can leverage the new benefits from new partners to reach more unbanked people around the globe.

 

Blockchain Helping the Unbanked

The fundamental philosophy of blockchain is providing valuable services to people around the world with the least limitations. Decentralized technology has shown lots of capabilities in reaching more people around the world and helping them find better financial solutions.

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Lots of people around the world don’t have access to banking services. Because of many reasons, they can’t connect to the global financial ecosystem. Blockchain products can solve this challenge using decentralized concepts.

Tala is one of the most active companies aiming to solve the unbaked community problems. The latest partnership with Visa and Circle surely helps them provide services to more people.

The latest partnership with Visa lets Tala provide payment cards to people in developing countries. These cards are linked to Tala accounts. Users can settle the cards using the USDC stablecoin. Stellar is the blockchain layer in this process that provides the fundamental payment solution.

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Tala app

Tala has been working on serving the unbanked communities for seven years. It has achieved many goals, and the latest partnership is another strategic step toward bigger goals for them. Tala Founder and CEO Shivani Siroya said:

“Since our start seven years ago, Tala has been a leader in leveraging data and next-generation mobile technology to solve the seemingly intractable problem of financial inclusion. Digital currencies have tremendous potential to radically open financial access and put more control directly into the hands of underbanked and underestimated people. We couldn’t be more excited that Visa, Circle, and the Stellar Development Foundation share our vision and want to work on a solution, not only for Tala’s 6 million global customers but for the billions more who can benefit.”

USDC is one of the most famous stablecoins in the cryptocurrency markets. It has lots of benefits for users in developing countries who want a tool for storing the value of their money. U.S. Dollar is one of the most stable currencies that many citizens worldwide use for preventing the impacts of inflation in their countries. With the services like Tala, they can now easily buy a U.S. Dollar pegged cryptocurrency for storing value or managing cross-border payments.

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Stellar USDC Based $150 million Liquidity Support to On-Chain Projects

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Leveraging on-chain assets to support the ecosystem financially is a great way to showcase the value of Stellar. There are several projects building on Stellar.  Thus, creating new pathways for expanding financial inclusion. Stellar are looking to leverage those pathways.

The on-chain assets will help the ecosystem along with the tools that they already have and will continue to add more to the toolbox. To that end, Stellar heard the growing demand from ecosystem partners where debt financing will be able to advance innovative projects, both new and existing, on Stellar.

Denelle Dixon expressed:  We’ve just moved $150 million on-chain to support the growth and development of the Stellar network.

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These on-chain assets will be deployed in support of our mandate with tools we have already been using and a new tool: tailored financing to help ecosystem companies when they need it most.

Think working capital loans to payment companies as an example. Funds will be based in Stellar USDC.

Having USDC at the ready is powerful. It’s a tool to swiftly remove roadblocks for fast-growing projects, and clear wider pathways to expand financial inclusion.

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The financing based in Stellar USDC is great as it permits near-zero transaction costs and takes nearly 5 seconds to finalize a transaction.

It is possible to see how ecosystem companies will be already leveraging USDC on Stellar worldwide. By moving $150 million worth in USDC on-chain makes it possible for SDF to work with a pool of flexible capital can be deployed quickly to help these projects by tailored financing when they need it the most.

Denelle reinstated on how they are looking to further reinforce Stellar USDC as the “go-to” stablecoin for projects which make use of a digital dollar currency for global settlement.

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The Stellar ecosystem are looking for new ways to meet their liquidity needs to further growth. Thus having USDC ready on-chain furthers the support requirements of these companies.  Thus, removing roadblocks for the fast-growing projects like enabling cross-border payments and remittances on Stellar, which will ultimately drive toward SDF’s goal of expanding financial inclusion and access.

SDF will continually evaluate projects and their potential value to the Stellar network, and based on that funding will be available for different ecosystem needs.  This will include working capital loans to payment companies and debt financing for lending businesses.

Community Response:  This is awesome, Denelle, but whatever you do, don’t accept any invitation from Gary to “come see” him. You’ll regret it.

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That is great news. With pendulum_chain building the DeFi infrastructure, Stellar will be top-tier network for the next generation of finance.

Pendulum does the job of connecting Fiat to DeFi.

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XLM Price Prediction: Stellar traps bulls as it targets $0.195

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  • Bulls picked up Stellar coins at the monthly S1 pivot near $0.26
  • Although Stellar price action looks to claw back, a bear trap appears to be forming. 
  • A bull trap would spell bad news for XLM price action that could fall to $0.19

Since Wednesday, the Stellar (XLM) price has been paring back losses, but price action has already started to fade on XLM. Bulls cannot push the price above $0.30, and XLM price has startedto form a bull trap. A further downturn would spell more buyers’ headaches as the downtrend would still be intact and attract more sellers to the stage.

Stellar bulls worries as downtrend look to be intact

Stellar price looked to favor the bulls on Thursday as price action in XLM tried to push above $0.30. With the price fading today, it seems as if a bull trap is being formed. Price not getting back above the $0.30 level spells bad news for the buyers in Stellar. As that $0.30 level starts to drift away, buyers will start closing their positions, giving sellers the chance to drive price action further down. With not many supporting factors in the way, expect a retest of the monthly S1 supporting pivot at $0.26.

XLM price will not stop there, and buyers will get stopped out upon the stops that they placed just below the S1 monthly support. As this will prove that the downtrend in Stellar price action is still very much intact, expect a break lower $0.20. With the confirmation of that downtrend, sellers will add short positions along the way as there are few places where buyers will step in between $0.26 and $0.20.

XLM/USD daily chart

XLM/USD daily chart

Except with the downtrend, sellers stay in charge of the Stellar price until some supporting grounds can be found where buyers might start to go long again when Stellar has been discounted enough in its price. That level looks to be $0.20, which is the low of last summer and has proven its importance on two occasions already. 

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Should any favorable tailwind reemerge and XLM push price action back toward the buyers, expect a shift in sentiment back toward $0.30. It would be imperative, however, that a daily or even a weekly close above there is needed to break the downtrend unfolding at the moment.

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Stellar-Polygon Bridge Goes Live to Expand XLM Usage in DeFi

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NewsCrypto is going to unveil a mechanism to allow Wrapped XLM tokens to get integrated into DeFis on Polygon

NewsCrypto (NWC), a multi-purpose platform for crypto education and development, received a grant from Polygon (MATIC) to create an interoperability protocol between the two networks.

Stellar-Polygon bridge launches with Wrapped XLM

According to the press release shared with U.Today, Stellar (XLM) and Polygon (MATIC), two mainstream smart contracts environments, will be 100% interoperable as the new bridge launches.

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NewsCrypto Launches XLM-MATIC bridge
Image by NewsCrypto

The system, developed by the NewsCrypto (NWC) platform, is backed by a massive developer grant from the Polygon team. To create this bridge, NewsCrypto (NWC) leveraged its unmatched expertise with Stellar (XLM).

The new protocol will support nearly instant swaps with zero fees. Its security design boasts decentralized multi-sig schemes and Chainlink’s proof-of-reserve (PoR) module for safe and peer-to-peer interaction of all of its participants.

Recently, the system has undergone a thorough audit by Proxima, a high-profile blockchain security vendor.

$10 billion Stellar (XLM) ecosystem can be used in DeFi

Arjun Kalsy, VP of Growth at Polygon, states that the new instrument will ensure the inflow of liquidity to Polygon-based DeFi ecosystem:

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NewsCrypto is looking to deploy their learning solution stack and becoming a part of the Polygon network. With the newest Stellar – Polygon bridge designed and developed by NewsCrypto, the Stellar network community can now transfer liquidity and engage with Polygon’s growing ecosystem.

For Stellar, this step will reaffirm its focus on expanding into the DeFi segment. As covered by U.Today previously, with its Project Venus, Stellar devs introduce a new type of smart contract.

Vid Gradišar, CEO of NewsCrypto, emphasizes the paramount importance of this announcement for the progress of DeFi on Stellar (XLM) and Polygon (MATIC):

The Stellar bridge represents an important pivot for us into infrastructure projects. The Stellar ecosystem is criminally underserved by popular interoperability solutions, far less than its capacity would imply. We knew that without us, it would’ve stayed the same, so we went ahead and connected the $10 billion XLM ecosystem to DeFi on Polygon.

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