Fastmail, an Australian company, now offers the option to store user data in the European Union, in addition to the existing US-based storage. This change allows users to choose where their primary data is stored, with the EU option being hosted on Fastmail's own servers in Amsterdam. However, it's noted that this does not guarantee data will remain only in the EU, as some data is replicated across regions for backup and other purposes. The company emphasizes transparency in their data handling practices.