MHC Digital Group, an institutional digital belongings platform, has introduced a three way partnership with Catena Digital to ascertain Macropod, an Australian dollar-backed stablecoin platform.
The stablecoin, to be listed beneath the ticker AUDM, shall be issued on a one-to-one foundation towards Australian {dollars} held in belief with a significant Australian financial institution.
It’s going to function beneath regulatory oversight and supply month-to-month proof-of-reserves attestations.
The enterprise combines MHC Digital Group, led by Mark Carnegie, with Catena Digital, based by former Nationwide Australia Financial institution executives and headed by Chief Government Drew Bradford.
Based on the companions, Macropod goals to supply a scalable and compliant framework for an institutional-grade stablecoin.
“That is the lacking piece of digital infrastructure in Australia,”
stated Mark Carnegie, Founder and Government Chairman of MHC Digital Group.
“Stablecoins are already the fastest-scaling asset class in monetary historical past, and demand from exchanges, wealth platforms and fintechs for compliant Australian greenback rails is at an all-time excessive. Macropod will ship the belief, scale and connectivity establishments have been ready for.”
The event displays broader world momentum for stablecoins.
Japan lately permitted a licensed yen-backed token (JPYC), whereas within the US, the Genius Act has signalled regulatory recognition of stablecoins’ position within the monetary system.
MHC has beforehand labored with Circle, the issuer of USDC, to increase institutional entry to digital {dollars} in Australia and the broader Asia-Pacific area.
Underneath the phrases of the 50/50 three way partnership, Catena’s management will transfer into Macropod’s senior administration, with Drew Bradford as Chief Government.
MHC will contribute capital, strategic enter and infrastructure, together with buying and selling, settlement and liquidity help by its buying and selling platform, MHC Markets.
The launch comes at a time when stablecoins are experiencing speedy development.
They enabled greater than US$26 trillion in transactions globally in 2024, with volumes projected to exceed US$3 trillion yearly by 2030.
More and more, this exercise is linked to sensible functions akin to funds, treasury operations and tokenised belongings.
Regardless of this, Australia has not but developed a licensed, Australian dollar-denominated stablecoin, which Macropod intends to deal with.
Regulatory steering is evolving, supported by ASIC’s Data Sheet 225, the federal authorities’s pro-fintech place, and the Reserve Financial institution of Australia’s Undertaking Acacia.
Catena is main one of many use instances throughout the mission, targeted on stablecoin settlement for tokenised monetary markets.
Macropod will start by holding reserves in segregated belief accounts with an Australian authorised deposit-taking establishment.
It’s going to provide real-time software programming interfaces to permit companions to problem or redeem AUDM and to combine the stablecoin inside their platforms.
The stablecoin will initially function on Ethereum and Redbelly, an Australian-developed blockchain.
The enterprise can even function beneath regulatory oversight, together with an Australian Monetary Companies Licence and Digital Foreign money Trade registration with Austrac.
“Macropod is the one workforce available in the market with the licences, partnerships and infrastructure to compliantly scale a stablecoin in Australia,”
stated Mark Carnegie.
“Launching at a time of accelerating world adoption, we’re offering the nation with a trusted onshore possibility to satisfy surging demand. Along with Catena, this partnership is constructing the inspiration for Australia’s digital asset economic system.”
Featured picture credit score: Edited by Fintech Information Singapore, based mostly on picture by MMollaretti by way of Freepik
