Australian stablecoin startup Stables, backed by Jump Capital, is launching its services in Europe through a new partnership with Mastercard. This move, announced on Monday, allows users to make contactless payments via Apple Pay and Google Pay across Mastercard’s global network.
Stables, holding a Virtual Asset Service Provider (VASP) license in the EU, views this partnership as crucial for advancing stablecoin-based solutions. The company’s entry into the European market is driven by the growing adoption of stablecoins, with businesses increasingly using them for transactions like paying employees or vendors.
Founded in 2021, Stables raised $3.75 million in seed funding in 2022 to develop its backend infrastructure. The startup estimates that around $10 trillion worth of stablecoins will be settled on-chain annually, highlighting the industry’s vast potential.
Stables’ expansion into Europe marks a significant step in leveraging stablecoins for mainstream financial transactions, showcasing the strategic long-term importance of stablecoin adoption in global markets.
