Announcement

March 21, 2023

We've partnered with Mastercard to make stablecoin spending easy

Stables is the first stablecoin wallet in APAC to partner with Mastercard

We are thrilled to announce that Stables is the first stablecoin wallet in APAC to partner with Mastercard to allow users to spend their stables anywhere Mastercard is accepted!

We wanted to ensure our partners have an international reach, but also show a real commitment to digital transformation, sustainability, and innovation - and we found that in Mastercard. Let's dive into why this is so exciting!

Using stablecoins in everyday life is complex and inefficient.

Over the past few years, stablecoins have experienced rapid growth and now have a total market valuation of over $150 billion. Although they are widely used to preserve value in times of volatility, and as a base layer for decentralized finance protocols, they have been difficult to use for everyday purchases.

Current crypto users must:

  1. Transfer their stablecoins from their wallet to an exchange
  2. Exchange their stablecoins for fiat
  3. Withdraw to their bank account - which can take up to a few days
  4. Spend their fiat from their bank account

We need an easy, direct, and familiar way to move and use stablecoins in the real world if we want to see widespread adoption.

Building a 100x better stablecoin payment user experience.

We are launching a Stables virtual prepaid card, allowing users to spend their stablecoin balance on everyday purchases without first converting it to fiat. This is the perfect solution because:

  • It gives users greater autonomy when it comes to transactions.
  • It unlocks the true potential of stablecoins by allowing users to spend them like cash on everyday items.
  • It allows both banked and unbanked users to preserve their value from inflation in their local currency.

We believe that stablecoins are the key to building the foundation for the future of money, and this partnership is just the beginning!

What do our partners say?

Kallan Hogan, Vice President of Business Development and Head of Fintech, Australasia, Mastercard: “Mastercard is committed to powering innovative payment solutions that give cardholders the freedom to spend their assets where, how, and when they want.  Stables is building a solution for the Web3 sector Leveraging Mastercard’s global network and cyber and intelligence tools, including CipherTrace and Ekata, with trust and security at the core”

Duncan Currie, Country Manager for Australia and New Zealand, Marqeta:” Australia has historically been at the forefront of consumer adoption for new technologies, and crypto payments are a prime example of the next wave of innovation that’s accelerating in the APAC region. We’re proud to partner with Stables and Mastercard to enable them to create more flexible payment options for their customers with our APIs.”

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