Stables launches Asia Pacific’s first stablecoin virtual card powered by Mastercard
Stables, a leading stablecoin digital wallet, is excited to announce the official launch of the Stables Mastercard™ virtual prepaid card in Australia. This groundbreaking solution allows users to seamlessly and securely spend their stablecoin balance anywhere Mastercard cards are accepted, instore or online. Leveraging Circle Internet Financial (Circle)’s USDC, the Stables virtual card empowers customers to utilize their stablecoins in the physical world, meeting the growing demand for real-world spending among digital asset holders.
"Our vision at Stables has always been to simplify the usage of stablecoins and drive their widespread adoption globally" said Erez Rachamim, CEO of Stables. "With the launch of the Stables Mastercard virtual prepaid card, we are empowering users to unlock the true potential of stablecoins by enabling them to spend their holdings like cash securely, seamlessly and globally. This is a significant milestone in our journey towards revolutionising the future of money."
Stablecoins have gained significant popularity in recent years, with a total market valuation surpassing $150 billion. However, their potential for everyday use has been hindered by complex and inefficient processes. Existing users often face the cumbersome task of transferring stablecoins to an exchange, converting them to fiat currency, withdrawing to their bank accounts, and finally making purchases using traditional means. The Stables virtual card eliminates these barriers, providing a secure and user-friendly solution to bridge the gap between stablecoins and real-world transactions.
Stables is working closely with Mastercard to expand the network of global users harnessing the power of stablecoins, like USDC, in their everyday lives. "The collaboration between Stables and Circle is driven by the shared objective of fostering worldwide economic prosperity by facilitating seamless value exchange. Circle’s exceptional commitment to regulatory compliance and industry-leading transparency is why we chose to leverage USDC as the preferred stablecoin for storing customer funds,” added Bernardo Bilotta, CPO of Stables who has extensive experience building fintech products like Pocketbook & Zip which have reached millions of users. "Our team has meticulously developed a product that combines ease of use, security, and global accessibility."
“We are thrilled that Stables shares our mission to shape the future of digital transactions,” said Raagulan Pathy, Vice President of Asia Pacific for Circle. “The Stables Mastercard virtual prepaid card will usher in a new era of utilizing digital assets, and we look forward to future innovations from Stables.”
With the launch of the Stables Mastercard virtual prepaid card, Stables continues to spearhead innovation in the stablecoin industry. This milestone is just one of the exciting moves for Australian fintech in addition to recently securing a European virtual asset license ahead of their planned launch in new markets.
Users can join the global movement towards seamless stablecoin spending by signing up for the Stables wallet and activate their virtual card through the Stables website available to download in both iOS & Android store app stores.
About Stables
Stables is the brainchild of experienced fintech leaders Erez Rachamim, Bernardo Bilotta, Daniel Li, David Nichols & Tony Tao. Stables employs 15 full-time staff, operating out of Australia and abroad.
Founded in 2021, Sydney-based Stables is on a mission to empower crypto natives to use stablecoins in the real world. Stables is a one-stop digital wallet enabling you to spend, send and earn from a single balance powered by stablecoins.
Key investors in Stables include global venture capital funds Jump Capital, Global Founders Capital, Fintech Collective and DACM as well as high-profile angel investors including Alvin Singh and Bosco Tan (co-founders at Pocketbook), Larry Diamond (co-founder at Zip Co), Heslin Kim (co-founder at SupraOracles), Jonty Kelt (founder at Fantail Ventures) and Lucas He (co-founder at OP Crypto).
About Circle, https://www.circle.com/en/
Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Circle is the issuer of USDC and Euro Coin - highly liquid, interoperable, and trusted money protocols on the internet. Circle’s open and programmable platform and APIs make it easy for organizations to run their internet-scale business, whether it is making international payments, building globally-accessible Web3 apps or managing their internal treasury. Learn more at https://circle.com.
About Mastercard (NYSE: MA), www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
