Stables, an Australian stablecoin start-up, is now launching in Europe its services as part of a new partnership with Mastercard.
What is Stables?
Stables is a stablecoin Wallet startup that launches its services in Europe via a new partnership between Mastercard. Stables announced on Monday that customers can now pay contactlessly in-store or online using Apple Pay and Google Pay through Mastercard’s global merchant network.
The latest collaboration is seen as a major step by the startup that holds a Virtual Service Provider license (VASP) in the European Union. Their co-founder Bernardo Bilotta said the partnership was crucial to advancing new products in the “world of stablecoin based solutions.”
Stablecoin adoption is driving the company’s decision to enter Europe, according to stables. Businesses use stablecoins more and more for payments to employees or vendors. The company said that the stablecoin market is “ripe for opportunity”, estimating $10 trillion in stablecoins will be settled annually on-chain.
Stables was founded in 2021 by Erez Rachamim, Daniel Li Tony Tao Peter Duan David Nichols and Bernardo Bilotta. In 2022, it received a total funding of $3.75 Million from multiple investors including Jump Capital, 0x Ventures Parsiq and Gate.io. The money was used to develop the company’s infrastructure.
