Stables Partners with Mastercard to Expand Stablecoin Services in Europe

• Australian stablecoin startup Stables expands to Europe with Mastercard partnership.
• Stables users can use USDC for purchases in 27 European countries.
• Stablecoins gaining mainstream adoption beyond crypto enthusiasts.
• Stablecoin transaction volumes surge in 2023 for trading and payments.
• Australia seen as ideal regulatory "sandbox" for crypto firms.
• Stables collaborates with Mastercard to support euro payments in EU.

Summary :
Australian stablecoin payments startup Stables has partnered with Mastercard to expand its services to Europe. Co-founder Bernado Billota believes this move reflects the growing acceptance of dollar-pegged assets in mainstream markets. Stables users will now be able to make purchases using Circle's USD Coin (USDC) in 27 European countries where Mastercard is accepted, as well as through digital vendors like Apple and Google Pay. Billota emphasized that stablecoins are no longer limited to crypto enthusiasts, but are being adopted by everyday users with genuine needs. Stablecoins have gained popularity for trading, remittances, cross-border payments, and other payment applications worldwide. Billota also highlighted that stablecoins are particularly attractive to individuals in countries with high inflation rates or currency fragmentation. Despite regulatory clarity being more pronounced in the European Union than in Australia, Billota considers Australia an ideal environment for building a crypto firm due to its high regulatory standards. He believes that with a few small changes, Australia could become a favorable destination for crypto businesses. However, the biggest risk for crypto companies in Australia is the possibility of being debanked by local financial institutions. The Australian crypto industry has faced challenges, including the suspension of Binance's Australian dollar fiat services and crackdowns on crypto use by major banks.

Sources :

- CoinTelegraph