Key Data

• Trading Name: Stables
• Legal Entity: Tiiik Pty Ltd/OmiPay Pty Ltd/ Stables Europe
• Activities: Stablecoin Payment Startup 
• Location: Australia
• Regulations: registered Digital Currency Exchange provider with AUSTRAC/Virtual Asset Service Provider (VASP)
• Key People: Erez Rachamim/Daniel Li/Tony Tao/David Nichols/Mindy Li
• Latest news: Stables
• Latest update: July 23, 2024

Stables is a digital wallet that allows users to manage, spend, send, and earn stablecoins like USDC and USDT. Founded in February 2021, Stables aims to simplify the use of stablecoins for everyday transactions. Key features include a Stables Card, usable anywhere Mastercard is accepted, fast global transfers without fees, and earning rewards through various activities. The wallet prioritizes security with institutional-grade cryptography and supports transactions across multiple chains.

Offering

Stables offers a versatile digital wallet tailored for managing, spending, sending, and earning stablecoins such as USDC and USDT.

Their core product, the Stables Card, allows users to spend their stablecoins directly at any location that accepts Mastercard, converting stablecoins to cash instantly during transactions.

The wallet facilitates global transfers without fees, ensuring swift and cost-effective transactions compared to traditional methods.

Additionally, Stables supports multi-chain deposits and withdrawals, providing users with flexibility across various blockchain networks.

Emphasizing security, the platform employs institutional-grade cryptography, biometric authentication, and two-factor authentication (2FA). With transparent fee structures and an intuitive interface, Stables aims to make stablecoins more accessible and practical for everyday use.

Regulation

Company Structure:

• • Operated by Tiiik Pty Ltd in Australia and Stables Europe in Poland.
  • Tiiik Pty Ltd is a registered Digital Currency Exchange (DCE) provider and remittance dealer with AUSTRAC.
  • Stables Europe is a Virtual Asset Service Provider (VASP) registered in Poland.

Financial Regulation:

• • • Australia: Tiiik Pty Ltd operates under AUSTRAC regulations. The Stables Card is issued by EML Payment Solutions and managed by Mastercard Prepaid Management Services Australia.
    • Poland: Stables Europe complies with Polish virtual currency regulations.

Funding

Stable Money has raised a total funding of $24.9M over 3 rounds.

Customer Review

Trustpilot: 2,8 Stars with 4 Reviews

Apple App Store: 4,7 Stars with 90+ Reviews

Google: 3 Stars with 2 Reviews

Key People

• Erez Rachamim
• Daniel Li
• Tony Tao
• David Nichols
• Mindy Li

News

In July 2024 Stables has launched a stablecoin virtual card in Europe, in collaboration with Mastercard. This innovative card allows users to spend their stablecoin balances seamlessly and securely at any location that accepts Mastercard, both online and in-store. By leveraging Circle’s USDC, the Stables virtual card provides a practical solution for real-world spending, meeting the growing demand among digital asset holders​

Conclusion and Rating

We are rating Stables as Green for both merchant operations and compliance. This decision is based on the comprehensive fulfillment of all necessary data and criteria. The partnership with Mastercard and the utilization of Circle’s USDC ensure secure and seamless transactions. Stables has demonstrated that they meet the required regulatory standards and security protocols, effectively addressing both business needs and compliance regulations.