Jump Capital-backed stablecoin wallet Stables rolls out services in Europe

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As a seasoned crypto investor with a keen interest in stablecoins and their potential use cases, I find Stables’ European expansion through its partnership with Mastercard to be an exciting development. Having closely followed the stablecoin industry for years, I’ve witnessed its steady growth and the increasing adoption by businesses for transactions.

Stables, an Australian company specializing in stablecoins, is expanding into Europe through a new collaboration with Mastercard. This partnership marks the beginning of Stables’ European operations.

Stables, the innovative stablecoin wallet company, has unveiled its European entry through a strategic collaboration with Mastercard. According to a statement released on Monday, users can now effortlessly make contactless in-store and online transactions using Apple Pay and Google Pay across Mastercard’s extensive network of merchants worldwide.

The EU-licensed startup, boasting a Virtual Asset Service Provider (VASP) status, views this new collaboration as a pivotal move. Stable’s co-founder Bernardo Bilotta emphasizes the importance of this partnership in driving forward the development of innovative stablecoin-related offerings.

The company points out that stables’ move into the European market is fueled by the surging popularity of stablecoins among businesses. Companies are progressively employing stablecoins for various transactions, including paying salaries or settling debts with suppliers. According to the company’s assessment, the stablecoin sector offers vast potential, projecting around $10 trillion in annual on-chain settlement volume.

In 2021, Stables was established by the team consisting of Erez Rachamim, Daniel Li, Tony Tao, Peter Duan, David Nichols, and Bernardo Bilotta. The startup secured a total of $3.75 million in seed funding in the year 2022 from various investors, such as Jump Capital, 0x Ventures, Parsiq, and Gate.io. These funds were allocated for enhancing Stables’ backend infrastructure.

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2024-07-22 17:26