Collaborate with Mark Carnegie to bring USDC to Australia
Key receivers
Circle's partnership with Mark Carnegie aims to extend USDC's reach in Asia Pacific. The partnership could lead to the creation of a stable currency, the Australian dollar.
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Circle has announced plans to bring the USDC stablecoin to Australia in partnership with venture capitalist Mark Carnegie's MHC Digital Group, marking its expansion into the Asia Pacific region.
The collaboration aims to increase the spread of USDC and explore institutional use cases in Australia and beyond. MHC Digital Group, with offices in Australia and Singapore, USDC supplies wholesale customers throughout Australia.
Kash Razagi, chief business officer of the circle, highlighted the region's potential, citing a young, mobile-first population and a ready digital wallet. The partnership could allow Australian superannuation funds to avoid bank charges and create a stable currency for the Australian dollar in the future.
This expansion follows Circle's recent moves, including moving its headquarters to New York City's One World Trade Center ahead of a planned IPO valued at around $5 billion. The company has made USDC available through the banking system to investors in Mexico and Brazil and has become the first global stablecoin issuer licensed to offer dollar and euro peg tokens in the European Union.
USDC, the second largest stablecoin behind Tether USDT, currently has a market cap of $35 billion and a 24-hour trading volume of $7.87 billion. The partnership with MHC Digital Group represents another step in Circle's global expansion strategy, potentially bringing stablecoin technology to a wider audience in the Asia Pacific region.
In September, Circle partnered with Sony Block Solutions Labs to integrate USDC on Sony's Ethereum Layer-2 blockchain, Soneium, aiming to revolutionize digital finance and entertainment transactions.
Earlier this year, Circle implemented smart contract support for BlackRock BUIDL holders, allowing them to transfer shares to USDC, streamlining blockchain transactions and reducing costs.
Beyond native L2s, Circle has expanded its Web3 services to the Solana blockchain, providing USDC access for developers and enterprises with improved on-chain transaction management and secure wallet integration.
In September, Circle partnered with Sony Block Solutions Labs to integrate USDC on Sony's Ethereum Layer-2 blockchain, Soneium, aiming to revolutionize digital finance and entertainment transactions.
Earlier this year, Circle implemented smart contract support for BlackRock BUIDL holders, allowing them to transfer shares to USDC, streamlining blockchain transactions and reducing costs.
Beyond native L2s, Circle has expanded its Web3 services to the Solana blockchain, providing USDC access for developers and enterprises with improved on-chain transaction management and secure wallet integration.
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