Stables, an Australian stablecoin payments startup announced a partnership with Mastercard that will see it expand into Europe, on 22 July 2024. Co-founder of Stables, Bernado Billota believes this partnership epitomises a wider trend of stablecoin assets becoming mainstream.
Founded in 2021, Stables is an Australian stablecoin payments startup. Its new market presence is a strategic move for the payment startup, with Europe emerging as a crypto-friendly hub due to clear regulatory status, fuelled heavily by MiCA coming into effect from June 2023. On that point, Bilotta said “As we establish ourselves as an open payment network business, Europe’s regulatory clarity and financial prowess position it as a pivotal region for driving innovation in the realm of stablecoin-based solutions.”
Mastercard Partnership: A Step Forward For Stables
Stables holds a Virtual Asset Service Provider (VASP) licence, allowing it to offer products safely across the 27 member states of the EU.
Commenting on the partnership, Billota said, “Our collaboration with Mastercard has streamlined the crypto spending experience, blending familiarity with innovation.”
“European users can now leverage their stablecoins for everyday spending,” he added.
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☁️✨Dream partnership alert ☁️✨
We've teamed up with @MastercardEU to bring the Stables card to our European frens 🇪🇺
This is a huge step towards our mission to make fast, affordable payments accessible to everyone, no matter where you are.
We spilled all the tea with… pic.twitter.com/2a2QmOGNMM
— Stables 💳 (@stables_money) July 22, 2024
Leveraging recent advancements in the Markets in Crypto-Assets Regulation (MiCA), Stables is positioning itself at the forefront of stablecoin-backed product regulation worldwide. Using Circle’s USDC token, wherever MasterCard, Apple and Google Pay are accepted, Stables will be a viable payment option.
Stables allows users to purchase everyday items with USDC via a digital debit card anywhere Mastercard is accepted. Stables is backed by a number of crypto venture capitalists, such as, Jump Capital, Pocketbook co-founder Alvin Singh, Bosco Tan, and Zip co-founder Larry Diamond.
Meanwhile, Christian Rau, Senior VP of Crypto and Fintech Enablement for Mastercard Europe said, “As Stables expand into Europe, we’re pleased to be continuing to support them to deliver innovative, secure and seamless payment experiences, enabling greater choice and empowering cardholders to pay, spend and buy with the assets they choose”.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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