Australian pension funds can expect a pitch soon for saving money on fees with a stablecoin.
MHC Digital Group and Circle have announced plans to cooperate to increase distribution of Circle’s US Dollar Coin (USDC) to institutional investors in Australia and the Asia Pacific region. MHC Digital will seek to provide “cost-effective and efficient USDC access” to wholesale clients.
As part of this initiative, MHC Digital is launching an over-the-counter trading service targeting high-net-worth individuals, hedge funds and cryptocurrency businesses in the region.
MHC Digital founder and executive chairman Mark Carnegie said in an interview with The Australian Financial Review that he wants to convince large Australian pension funds to consider using the stablecoin to cut down on payment fees. He said:
