Circle Partners with MHC Digital to Bring USDC Stablecoin to Australia and Asia Pacific
With the announcement on Tuesday of a partnership with venture capitalist Mark Carnegie‘s MHC Digital Group, Circle has indicated its intentions to introduce its stablecoin, USDC, to Australia and other countries. Given that Carnegie’s company has offices in Australia and Singapore, the alliance looks to be focused on the Asia Pacific region. The company’s goals include investigating institutional use cases and expanding USDC distribution in the region.
With its young, mobile-first and digital wallet ready population, the Asia Pacific region is ahead of the curve when it comes to digital asset adoption. We are excited to work with MHC Digital to pave the way for a new era in digital finance in Australia and beyond.
Chief Business Officer for Circle Kash Razzaghi
Circle Expands USDC Reach Across Borders, Prepares for IPO with New Office at One World Trade Center
As it prepared for its anticipated initial public offering at a valuation of about $5 billion, Circle relocated its offices to the famous One World Trade Center in New York City, demonstrating the company’s recent scale. Investors in Mexico and Brazil were able to purchase its USDC stablecoin earlier this month via banking systems rather than merely cryptocurrency exchanges. It also became the first worldwide stablecoin issuer to obtain a license in the European Union (EU) to sell cryptocurrency tokens that are tied to the dollar and euro.
In order to give wholesale clients throughout Australia access to USDC, Circle and Carnegie’s MHC Digital Group have partnered. In the future, the agreement may lead to the creation of an Australian dollar stablecoin, as stated by Carnegie to The Australian Financial Review. The action might help superannuation funds avoid significant bank fees.
People claim there is no use case for crypto, yet hundreds of billions move globally at a fraction of the cost of traditional payment infrastructure. Crypto is simply a better mouse trap for the vast majority of international payments. Circle is the obvious candidate to be the long-term winner in the regulated stablecoin space, and we are very excited to work together to expand access to USDC in Australia and beyond.
Founder and Executive Chairman of MHC Digital Group Mark Carnegie
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