• Mastercard and Stables have launched a stablecoin-only wallet with a payment card for daily spending in Asia.
• Customers can exchange their stablecoins for U.S. dollars or other fiat currencies and use them everywhere Mastercard is accepted.
• Stables‘ payment gateway will enable instant USDC transactions, providing digital asset custody technology that are ISO and SOC2 certified.
Stables and Mastercard Launch APAC Stablecoin Wallet
Mastercard and Stables have partnered to offer the first stablecoin-only wallet with a payment card for daily spending in Asia Pacific (APAC). This payment system allows customers to exchange their stablecoins into U.S. dollars or other fiat currencies and make purchases anywhere where Mastercard is accepted. The wallet offers both stability, regulatory compliance, and consumer protection.
Stables Payment Gateway
The Stables digital app enables clients to securely store their digital assets, which can be accessed on mobile wallets for convenient spending with USDC through its payment gateway partner that would convert the USDC to currency and settle transactions on the Mastercard network.
Consumer Interest In Digital Assets
Recent research by Marqeta found that 82% of digital asset holders are interested in utilizing a debit card to spend on cryptocurrencies as 55% of APAC consumers would feel more comfortable investing in crypto or digital currencies supported by trustworthy organizations like Mastercard’s security solutions such as CipherTrace and Ekata.
Remarks From Executives
Erez Rachamim, co-founder and chief executive officer of Stables praised the move as it gives individuals an easy way of deriving real world value from their digital assets while Kallan Hogan, VP of business development at Mastercard said “trust and security are at the heart of the Stables payment solution” Tony Tao CTO of Stables added that this was a great opportunity for the company to expand its reach in the industry.
Conclusion
The new partnership between Mastercard and Stables provides customers with more options for using their digital assets in the real world in a secure manner thanks to its certification standards from ISO & SOC 2 along with its trusted partners such as CipherTrace & Ekata all within a single platform accessible to all APAC countries .