The crypto payment-centric payment enterprise Tribal joined hands with the world’s largest payment network Visa inc to expand its offerings for small-to-medium-sized businesses across Latin America and the Caribbean.
The deal with Visa will enable Tribal to issue business credit cards in different local currencies and denominations across Latin America, including Mexico, Brazil, Colombia, Argentina, Chile, Peru, Panama, Uruguay, and the Dominican Republic.
In an interview, a Tribal official revealed that initially, the company will aim to offer its credit facility in Colombia, Peru, and Chile.
Tribal technology enables enterprises to use cryptocurrencies and blockchain technology for payments and fund transfers.
Last year, Tribal locked a deal with Latin American crypto exchange Bitso and the Stellar development foundation to build a new firm for cross-border payment services.
The platform has given an example of El Salvador’s adoption of Bitcoin as a legal tender and expansion of cryptocurrencies in Latin America for a reason to develop blockchain-based payment solutions.
The Visa payment network has also tied up many deals to invade the crypto space. Recently, Visa joined hands with crypto exchange FTX to launch a Visa debit card for users to spend their crypto balances.
