USDC Stablecoin Set to Enter Australia And Asia Pacific With New Partnership

Ronny Mugendi
October 1, 2024 Updated July 17, 2025
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USDC Stablecoin Set to Enter Australia And Asia Pacific With New Partnership

Highlights

  • Circle partners with Mark Carnegie to expand USDC in Australia and Asia Pacific.
  • MHC Digital Group to focus on institutional use of USDC across Australia.
  • Circle’s global USDC expansion includes recent EU licensing and NY headquarters move.

Circle has announced an expansion of its USDC stablecoin operations into Australia and the Asia Pacific region, marking a stride in its global strategy. This development comes through a collaboration with venture capitalist Mark Carnegie’s MHC Digital Group. The stablecoin issuer will leverage the financial infrastructure of Australia and Singapore to enhance the utility of USDC.

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Circle Expands USDC Stablecoin to Australia in New Partnership

Circle has solidified a partnership with venture capitalist Mark Carnegie’s MHC Digital Group to extend the reach of USDC stablecoin into Australia and the broader Asia Pacific area. This initiative propels USDC into new international markets targeting institutional clients to introduce efficient crypto solutions in traditional financial systems.

MHC Digital Group, renowned for its influence across Australia and Singapore, will play a role in enabling USDC to penetrate wholesale markets. This alliance will reduce transaction costs and streamline cross-border payments for institutions, providing an alternative to conventional banking channels.

The Chief Business Officer for Circle Kash Razzaghi remarked,

“we are excited to work with MHC Digital to pave the way for a new era in digital finance in Australia and beyond.”

Additionally, the collaboration with MHC Digital Group focuses on tailoring the USDC stablecoin utility for institutional use. This will reshape financial interactions across the region. Concurrently, the partnership will offer efficiency for large-scale operations, such as superannuation funds that often grapple with hefty bank charges.

Moreover, the partnership is a testament to the firm’s commitment to adhere to regulatory standards globally. In July, the stablecoin issuer got a regulatory license from the EU for its USDC and EURC stablecoins under MiCA regulations. This made it the first stablecoin issuer licensed to offer dollar- and euro-pegged tokens in the European Union.

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Strategic Moves and Future Plans

As part of its global expansion strategy, Circle has recently relocated its headquarters to New York City’s iconic One World Trade Center and is gearing up for an initial public offering valued at approximately $5 billion. 

This move underscores the company’s ambition to solidify its presence on the global stage and among the top crypto exchanges in Australia. More so, just last month, Circle expanded USDC stablecoin to Brazil and Mexico to enable faster, cheaper access through local payment systems.

In addition to its expansion in the Asia Pacific, Circle has introduced the Compliance Engine, a new suite of products designed to support developers in adhering to complex regulatory frameworks while building on-chain financial services. This initiative promote a safe and compliant ecosystem for crypto developments.

The firm also plans to facilitate bridged USDC on Sony’s newly launched Ethereum layer 2 blockchain, Soneium. This extension signifies the firm’s ongoing efforts to enhance the utility and accessibility of USDC in the digital asset landscape.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.