Crypto-centric enterprise payment platform Tribal Credit has reportedly forged an alliance with Visa to widen the scope of its credit and financing options for small- and medium-sized enterprises in Latin America. 

Specifically, the newly formed alliance with Visa – an emphasis on the developing synergies between traditional payment providers and the blockchain sphere – will reportedly support Tribal with the issuance of business credit cards in local denominations and currencies in different countries in the Latin America regions. 

Said nations reportedly include Mexico, Brazil, Colombia, Argentina, Chile, Peru, Panama, Uruguay and the Dominican Republic.

A Tribal representative further disclosed details related to the company’s initial concentration being placed on providing this credit facility to the countries of Colombia, Peru and Chile.

While the Visa alliance will reportedly revolve around equipping  small businesses with traditional financing solutions primarily, Tribal technology further makes it possible for enterprises to take advantage of crypto and blockchain to support payments and transfer funds.

In December last year, Tribal reportedly established a collaboration with  Latin American crypto exchange Bitso and the Stellar Development Foundation, to jointly introduce a new enterprise cross-border payment service, which takes advantage of the features of  Stellar’s USD stablecoin.

Tribal reportedly emphasized El Salvador’s Bitcoin Law and the rising acceptance of cryptocurrencies in Latin America, being the driving forces fueling the continual development of blockchain-powered payment solutions.

As for VISA, this heavyweight reportedly expanded its view regarding crypto as well, and has even built a blockchain interoperability initiative – called “Universal Payment Channel” – for digital payments, via conducting studies on blockchain interoperability with the target of streamlining digital asset transfers across chains.