Stables is a Sydney-based business that offers stablecoin payments. The team, founded in February 2021, offers Australian residents the ability to spend and receive stablecoins with a card just like they would AUD. Customers can also send and receive USDC, USDT, DAI & PYUSD via Stable’s integrated smartphone app and crypto wallet.
Stables is an Aussie-focused business with an eye toward everyday spending. Using the Stables card, Australians can use their crypto assets at merchants accepting Mastercard, both online and in-person. The service also comes with a smartphone app for financial management.
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Stables is one of Australia’s new wave of crypto debit card providers with a twist – they only use stablecoins. The business was co-founded by Erez Rachamim, Bernardo Bilotta, Daniel Li, David Nichols, and Tony Tao.
A product of the 2021 bull run, Stables have teamed up with Mastercard to let Aussies spend USDC, USDT, DAI & PYUSD at local and international merchants like they would AUD.
In 2024, Stables is gearing up to expand their card offering to both Europe and Southeast Asia.
From Left Erez Rachamim (CEO), Bernardo Bilotta (CPO) and Daniel Li (COO). (David Nichols (CRO) and Tony Tao (CTO) not pictured).
Stables’ key service is its debit card. The Mastercard-affiliated product allows customers to spend supported stablecoins at both brick-and-mortar and online retailers. The USD stablecoin card can be used both locally and internationally.
The Stables smartphone app also comes with an in-built wallet for managing your stablecoins. This can also be used to send and receive stablecoins comparable to transferring fiat from one bank account to another. These transactions presently occur on the Polygon network but Stables is working on expanding their supported blockchains. You can send it to other Stables users or to a wallet address on a supported chain. On-chain transactions to an external wallet incur a fee, but stables-to-stables off-chain transfers are free.
Check out the Stables website for a signup offer.
Stables supports Native USDC, USDT, DAI and PYUSD deposits across 7 EVM chains and Solana. All funds are stored as USDC on Polygon, and can be withdrawn as USDC or USDT across the 7 EVM chains, with more blockchains announced to be coming soon.
Related: Crypto debit cards available in Australia
For example, this means if you have USDT on Binance Smart Chain and wanted USDC on Polygon, Stables could be an extremely efficient way of converting your stablecoins and going cross-chain with them.
Here is a full breakdown of the fees:
Check out the Stables website for a signup offer.
Crypto News Australia disclaimers
This information provided by Crypto News Australia is factual information only. This information does not include any type of advice, nor does it contain recommendations or opinions intended to influence any person to make a decision about a financial product. Crypto News Australia were remunerated by Stables to post this summary, but does not receive any ongoing remuneration.
Stables disclaimers
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.
Presented by Stables
Ben Knight is a writer and editor from Melbourne with a passion for all things music and finance. He enjoys turning complex topics – especially the technical details of cryptocurrency – into digestible bites that anybody can understand. He acquired his Master’s in Writing, Editing and Publishing from RMIT in 2019 and has run his own creative writing business ever since.
Crypto News Australia provides you with the most relevant Bitcoin, cryptocurrency & blockchain news.
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