Announcement

New Coins on the Block: DAI and PYUSD Now Supported!

Liam Thomson

• Publilshed

November 6, 2023

We're excited to introduce the latest supported stablecoins - DAI and PYUSD (PayPal USD). Joining the ranks of the top two stablecoins, USDC and USDT, these new additions unlock one of the oldest stablecoin ecosystems in MakerDAO’s DAI, as well as one of the latest stablecoins, PYUSD launched by fintech giant PayPal.

Here's a deeper dive into what's new.

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Topping Up Made Effortless

Adding funds to your wallet is easy. Simply tap the 'Top Up' section in the app, select your preferred stablecoin - be it DAI, PYUSD, USDC, or USDT, select the supported blockchain, copy your unique wallet address, and you’re all set! Once your stables have hit your wallet, your balance will be updated in real time.

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Welcome the Newcomers

What is DAI?

DAI is an Ethereum-based stablecoin governed by MakerDAO. DAI is backed by a combination of tokenised real-world assets such as US treasuries, digital assets like Ethereum and other stablecoins, including USDC and USDT.

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What is PYUSD?

PYUSD, or PayPal USD, is backed 1:1 by US dollar deposits, US treasuries, and similar cash equivalents held by and on behalf of PayPal. PYUSD is currently only supported on the Ethereum blockchain and are redeemable for $1 USD with PayPal.

PayPal’s foray into digital assets and now stablecoins demonstrates their belief in blockchain as a payment rail, as well as the demand for US dollar stablecoins across the globe.

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More Stablecoins Right At Your Fingertips

We’ve added both DAI and PYUSD in order to support the broader stablecoin ecosystem beyond USDC and USDT, bringing us a step closer to a global financial ecosystem where boundaries blur. With just a few simple taps, you can send, spend and earn with your stablecoin balance with Stables seamlessly.

As we continue to broaden our supported stablecoins, we will also be adding new blockchains over the coming months, further accelerating the adoption of stablecoins globally

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Get started with Stables

‍Download the Stables app now - and experience the speed and security of stablecoins today.

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View our Terms & Policies

Stables powered by Tiiik Pty Ltd ACN 639 448 490 is a registered Digital Currency Exchange (DCE) provider with AUSTRAC - DCE100780083-001. Tiiik is also registered as an independent remittance dealer with AUSTRAC - IND100780083-001

The Stables Card Mastercard® powered by Tiiik Pty Ltd is issued by EML Payment Solutions Limited ABN 30 131 436 532, AFSL 404 131 ("Issuer"), and is managed by Mastercard Prepaid Management Services Australia Pty Ltd ABN 47 145 044, AFSL 386 837. You should consider the Product Disclosure Statement and Target Market Determination for this product located here. Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider if it is appropriate for you.

* Subject to any surcharge that may be imposed directly by merchants. The Stables Card is unable to be used for purchases related to gambling or adult entertainment. Currently the Stables Card cannot be used in the following countries and geographical regions due to sanctions that are currently in place: Crimea, Iran, North Korea, Sudan, Syria, Donetsk and Luhansk. If you attempt to use your card at merchants in any of these countries and geographical regions, your request will be declined. Additionally, all Mastercards will not work at Russian merchants. In addition, the POS terminals are not owned or operated by the Issuer or Mastercard Prepaid Management Services Australia Pty Ltd and the Issuer or Mastercard Prepaid Management Services Australia Pty Ltd are not responsible for ensuring that merchants will accept the Stables Card. For example, the Issuer and Mastercard Prepaid Management Services Australia Pty Ltd cannot control when a POS terminal is due for maintenance or is faulty of if a merchant chooses not to accept the Stables Card. In such cases, your Stables Card may not function properly or be declined. For more information please see the Product Disclosure Statement.

** Some merchants may charge their own fees and set their own limits.

Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

The Stables Send product is issued by OmiPay Pty Ltd ACN 612 481 768 (AFSL 495025) (“Issuer”) and distributed and administered by Tiiik Pty Ltd trading as Stables (“Stables”) ACN 639 448 490 (AFS Representative No. 001308192). You should consider the Product Disclosure Statement, Financial Services Guide and Target Market Determination for this product located here. Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider if it is appropriate for you."