MHC Digital Group has teamed up with Circle to expand access to Circle’s USD Coin (USDC) for institutional investors in Australia and across the Asia Pacific (APAC) region. This partnership aims to provide cost-effective USDC access, particularly for wholesale clients.

As part of the initiative, MHC Digital is launching an over-the-counter (OTC) trading service, targeting high-net-worth individuals, hedge funds, and crypto businesses in the region. MHC Digital’s founder, Mark Carnegie, expressed hopes of convincing large Australian pension funds to adopt USDC as a tool to reduce foreign exchange fees, stating that millions could be saved from current banking costs.

Circle’s chief business officer, Kash Razzaghi, highlighted the APAC region’s readiness for digital asset adoption, emphasizing its young, mobile-first population. He sees significant potential beyond institutional use.

The collaboration could also lead to the development of a Circle Australian dollar stablecoin, further expanding the reach of USDC in the region. Meanwhile, Circle continues its global expansion, having made strides in Brazil, Mexico, and Japan, and is preparing for a U.S. IPO in early 2025.

This partnership marks a significant step in bringing stablecoin technology to mainstream financial systems, with Australia and the wider APAC region set to benefit from reduced transaction fees and increased digital asset adoption.

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