Priya Patel
TLDR:
- Stables has launched international remittances between Australia and the Philippines.
- Users can now send Australian Dollars or Philippine Pesos using stablecoins.
Stables, an Australian digital wallet provider, has announced the launch of international remittances for its users in over 130 countries, focusing on the AU-PH corridor. With the Philippines being the largest importer of remittances in Southeast Asia, the market for stablecoin remittances is growing rapidly. Stables aims to offer users speed, low-cost settlement, security, and reliability for their transactions.
The company’s Co-Founder and CEO, Erez Rachamim, expressed excitement about embedding stablecoins in remittance rails and offering customers the ability to send funds with minimal fees and no middlemen involved. Stables aims to simplify the usage of stablecoins and drive their adoption globally to improve access to financial services in emerging markets where a significant portion of the population is underbanked.
Stables has also partnered with major global payment players like Mastercard, demonstrating a commitment to providing innovative solutions for users to utilize their stablecoins in the physical world. With a focus on bridging the gap for cheaper alternatives and providing real-world use cases for digital assets, Stables is poised for further expansion into new international markets in 2024.
