Circle is partnering with Mark Carnegie to bring USDC to Australia

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Circle has announced plans to bring the 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 USDC access to wholesale customers in Australia.

Circle’s chief business officer Kash Razzaghi highlighted the region’s potential, citing its young, mobile-first population and digital wallet availability. The partnership could help Australian superannuation funds avoid bank charges and lead to the creation of a stable Australian dollar currency in the future.

This expansion follows Circle’s recent moves, including relocating its headquarters to One World Trade Center in New York ahead of a planned IPO valued at about $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 cap of $35 billion and a 24-hour trading volume of $7.87 billion. The partnership with MHC Digital Group is 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 into Sony’s Ethereum layer-2 blockchain, Soneium, with the goal 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, simplifying blockchain transactions and reducing costs.

Beyond native L2, Circle has also extended its Web3 services to the Solana blockchain, improving USDC accessibility 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 into Sony’s Ethereum layer-2 blockchain, Soneium, with the goal 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, simplifying blockchain transactions and reducing costs.

Beyond native L2, Circle has also extended its Web3 services to the Solana blockchain, improving USDC accessibility for developers and enterprises with improved on-chain transaction management and secure wallet integration.

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