Key takeaways
- Circle’s partnership with Mark Carnegie aims to expand the reach of USDC in the Asia-Pacific region.
- The collaboration could lead to the creation of an Australian dollar stablecoin.
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Circle has announced plans to bring its USDC stablecoin to Australia through a partnership with venture capitalist Mark Carnegie’s MHC Digital Group, signaling an expansion into the Asia-Pacific region.
The collaboration aims to increase USDC distribution and explore institutional use cases in Australia and beyond. MHC Digital Group, with offices in Australia and Singapore, will provide access to USDC to wholesale customers across Australia.
Kash Razzaghi, Circle’s chief commercial officer, highlighted the region’s potential, noting its young, mobile-first, digital wallet-ready population. The partnership could help Australian pension funds avoid bank fees and could lead to the creation of an Australian dollar stablecoin in the future.
The expansion follows Circle’s recent moves, including moving its headquarters to One World Trade Center in New York, ahead of a planned IPO valued at approximately $5 billion. The company also made USDC available to investors in Mexico and Brazil through the banking system and became the first global stablecoin issuer authorized to offer dollar- and euro-pegged tokens in the European Union .
USDC, the second largest stablecoin behind Tether’s USDT, currently has a market capitalization 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 layer 2 Ethereum blockchain, Soneium, with the aim of transforming digital finance and entertainment transactions.
Earlier this year, Circle implemented smart contract support for BlackRock BUIDL holders, allowing them to transfer shares for USDC, streamlining blockchain transactions and reducing costs.
Beyond native L2s, Circle has also extended its Web3 services to the Solana blockchain, improving USDC accessibility for developers and businesses through improved on-chain transaction management and secure wallet integration .
In September, Circle partnered with Sony Block Solutions Labs to integrate USDC on Sony’s layer 2 Ethereum blockchain, Soneium, with the aim of transforming digital finance and entertainment transactions.
Earlier this year, Circle implemented smart contract support for BlackRock BUIDL holders, allowing them to transfer shares for USDC, streamlining blockchain transactions and reducing costs.
Beyond native L2s, Circle has also extended its Web3 services to the Solana blockchain, improving USDC accessibility for developers and businesses through improved on-chain transaction management and secure wallet integration .
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