The stablecoin, to be listed under the ticker AUDM, will be issued on a one-to-one basis against Australian dollars held in trust with a major Australian bank
MHC Digital Group, an institutional digital assets platform, has announced a joint venture (JV) with Catena Digital to establish Macropod, an Australian dollar-backed stablecoin platform.
The stablecoin, to be listed under the ticker AUDM, will be issued on a one-to-one basis against Australian dollars held in trust with a major Australian bank.
It will operate under regulatory oversight and provide monthly proof-of-reserves attestations.
The venture combines MHC Digital Group, led by Mark Carnegie, with Catena Digital, founded by former National Australia Bank executives and headed by Chief Executive Drew Bradford.
According to the partners, Macropod aims to provide a scalable and compliant framework for an institutional-grade stablecoin.
This is the missing piece of digital infrastructure in Australia, said Mark Carnegie, Founder and Executive Chairman of MHC Digital Group.
Stablecoins are already the fastest-scaling asset class in financial history, and demand from exchanges, wealth platforms and fintechs for compliant Australian dollar rails is at an all-time high. Macropod will deliver the trust, scale and connectivity institutions have been waiting for, he added.
The development reflects broader global momentum for stablecoins.
Japan recently approved a licensed yen-backed token (JPYC), while in the US, the Genius Act has signalled regulatory recognition of stablecoins’ role in the financial system.
MHC has previously worked with Circle, the issuer of USDC, to expand institutional access to digital dollars in Australia and the wider Asia-Pacific region.
Under the terms of the 50/50 joint venture, Catena’s leadership will move into Macropod’s senior management, with Drew Bradford as Chief Executive.
MHC will contribute capital, strategic input and infrastructure, including trading, settlement and liquidity support through its trading platform, MHC Markets.
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