What MHC DIGITAL LIMITED does

MHC Digital Group is an Australian-led institutional digital asset platform founded in 2016 by Mark Carnegie, providing regulated access to crypto and blockchain markets for wholesale and professional investors across APAC. The firm operates through three core lines: MHC Markets (an institutional OTC desk aggregating five or more liquidity venues for spot and derivatives execution with AUD/USD on/off-ramps), MHC Funds Management (two actively managed funds covering liquid digital assets and early-stage blockchain ventures), and MHC Advisory (strategic advice on tokenisation, treasury, capital raising, and M&A). Underlying infrastructure includes integrated custody through Anchorage Digital, the first federally chartered U.S. crypto bank, and stablecoin settlement through Circle, with platform-level security features such as segregated accounts, role-based permissions, and internal audits.

The company operates under Australian Financial Services (AFSL), Digital Currency Exchange (DCE), and NCP licences, with oversight from ASIC and AUSTRAC and full AML/CTF compliance. Headquartered at Suite 210-F3, The Entertainment Quarter, 122 Lang Road, Moore Park, Sydney, MHC has extended operations into Singapore via MHC Trading SG Pte SA (Proprietary) Limited (incorporated 2023) at 16 Raffles Quay, and maintains a further subsidiary, MHC Trading SG Pte (Zambia) Limited. Target customer segments include SMSFs, family offices, high-net-worth investors, financial institutions, crypto and blockchain funds, payments and remittance providers, and corporate treasuries.

Revenue is generated through OTC trading spreads on large-block digital asset transactions, management and performance fees on the two managed funds, advisory fees on tokenisation and capital mandates, and managed custody services. Typical minimum trade sizes start around $50,000–$100,000 and fund minimums around $100,000–$500,000, with pricing quote-based through direct engagement with the sales desk. The go-to-market is sales-led and high-touch: clients enquire through the website, complete KYC/AML verification, and onboard with dedicated relationship managers. To date, the firm reports $2B+ in digital asset volume executed through its regulated OTC platform, supported by 5+ integrated liquidity venues and 8+ years of combined team experience across investment banking, private equity, venture capital, FX trading, and blockchain infrastructure.

Name

MHC DIGITAL LIMITED

Legal name

MHC Trading Co Pty Limited

Website

https://mhcdigitalgroup.com

Company type

Private

Founded year

2016

Operating status

Operating

Short description

MHC Digital Group is an Australian-regulated institutional digital asset platform providing OTC trading, fund management, and advisory services to wholesale and professional investors across APAC through MHC Markets, MHC Funds Management, and MHC Advisory under ASIC oversight.

Ownership category

akta.pro rank

Product category

Institutional Digital Asset Services

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (52316)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

OTC Spot Trading & Block Execution (FSADAJAB)

akta.pro secondary industries

OTC Derivatives Execution Platforms (SEF/OTF/Swap Execution) (FSAFANAE), Digital Asset/Crypto Trade Execution Platforms (FSAFANAO), Derivatives Liquidity Provision, Market Making & RFQ Desks (FSADAGAJ)

Keywords

• Institutional crypto trading
• Digital asset custody
• OTC crypto desk
• Crypto fund management
• Blockchain advisory services

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. OTC Trading Services: Revenue generated through spreads on OTC cryptocurrency trades. The desk provides price discovery, execution, and settlement for large block trades of digital assets including Bitcoin, Ethereum, stablecoins, and altcoins for institutional clients.
2. Fund Management Fees: Management and performance fees from two actively managed funds: one focused on liquid digital assets and another on early-stage blockchain ventures. Combines institutional oversight with crypto-native insight.
3. Advisory Services: Strategic advice and capital solutions for businesses operating in digital finance, including tokenisation, treasury strategy, capital raising, and M&A guidance.
4. Custody Services: Institutional custody services for digital assets provided through partnership with Anchorage Digital, offering secure, regulated, and insured storage solutions.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

MHC Digital Group operates an institutional digital asset platform providing over-the-counter (OTC) trading for spot crypto and derivatives, actively managed digital asset funds, and strategic advisory services for businesses in digital finance. The platform supports institutional and wholesale clients with deep liquidity, integrated custody via Anchorage Digital, stablecoin settlement via Circle, and AUD/USD on/off-ramps, all under Australian AFSL, DCE, and NCP regulatory licenses.

Product overview

MHC Digital Group is an Australian-led institutional digital asset platform operating as a unified platform-plus-services architecture. The core portfolio spans three pillars — MHC Markets (institutional OTC desk for spot and derivatives trading with deep liquidity and fast settlement), MHC Funds Management (two actively managed funds: a Liquid Fund for liquid digital assets and a Venture Fund for early-stage blockchain ventures), and MHC Advisory (strategic advisory on tokenisation, treasury, and capital raising). These core offerings are supported by modular product services: Stablecoins (compliant stablecoin trading and settlement), Crypto Custody (institutional-grade custody via Anchorage Digital with insurance), Crypto Derivatives Trading, Fiat-to-Crypto Conversion (on/off ramps), Crypto Remittance Services, and API Infrastructure. The platform also includes a venture arm (MHC Venture) and the MHC Digital Asset Fund as sub-branded managed fund products. The integrated platform is described as purpose-built for institutional clients, combining regulated OTC execution, integrated custody, and post-trade support with stablecoin settlement infrastructure through Circle.

Differentiator

Problem solved

Functional benefit

Brands

• MHC Markets: Institutional-grade OTC desk providing deep liquidity and tight spreads for spot crypto and derivatives trading
• MHC Funds Management
• MHC Advisory
• MHC Venture
• MHC Digital Asset Fund
• MHC Digital Asset Fund
• OTC Trading
• Crypto Custody
• Crypto Derivatives Trading
• Fiat-to-Crypto Conversion
• Crypto Remittance Services
• Crypto Infrastructure

Products and services

• MHC Markets (OTC Trading Desk) Institutional-grade OTC desk providing deep liquidity and tight spreads for buying, selling, swapping, and custodying spot crypto and derivatives with fast settlement and AUD/USD on/off ramps for wholesale and institutional clients.
• MHC Funds Management Actively managed digital asset investment vehicle combining institutional oversight with crypto-native insight across two strategies: a Liquid Fund for liquid digital assets and a Venture Fund for early-stage blockchain ventures.
• MHC Digital Asset Fund (Liquid Fund) Actively managed fund focused on liquid digital assets, offering institutional investors professional portfolio management across digital asset markets.
• MHC Venture (Venture Fund) Venture-focused investment arm providing exposure to early-stage blockchain and crypto ventures as part of the broader funds management suite.
• MHC Advisory Strategic advisory and capital solutions for businesses in digital finance, covering tokenisation, treasury strategy, capital raising, and M&A guidance for the digital economy.
• Crypto Custody Institutional-grade digital asset custody provided through partnership with Anchorage Digital, the first federally chartered U.S. crypto bank, offering segregated, insured, bank-grade asset protection under regulatory oversight.
• Stablecoin Trading and Settlement Platform service supporting stablecoin trading and settlement infrastructure, including fiat-to-stablecoin and stablecoin-to-fiat conversions through compliant rails integrated with Circle.
• Fiat-to-Crypto Conversion (On & Off-Ramps) Fiat on-ramp and off-ramp services enabling seamless conversion between AUD, USD, and digital assets through KYC/AML-compliant banking partners, supporting fast settlement.
• Crypto Remittance Services Cross-border remittance services using digital asset rails for faster, lower-cost international payments compared to traditional correspondent banking.
• API Infrastructure API-based infrastructure services enabling institutional clients and partners to integrate digital asset trading, settlement, and access capabilities into their own systems.

Quantifiable outcome

• $2B+ in digital asset volume executed through regulated OTC platform for wholesale clients across APAC
• +2 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Anchorage DigitalcoreTechnology or IntegrationPartnership with Anchorage Digital, the first federally chartered U.S. crypto bank, to provide secure, regulated, and insured institutional-grade custody for digital assets. Anchorage Digital provides bank-grade asset protection under full regulatory oversight.
• CirclecoreTechnology or IntegrationIntegration with Circle for stablecoin settlement infrastructure, enabling fast capital efficiency and seamless AUD and USD on/off ramps through USDC stablecoin settlements.

Scale indicators3 records

Recent moves2 records

Expansion highlights6 records

Emerging players

• Zodia Markets: Institutional crypto OTC and liquidity provider backed by Standard Chartered's Zodia. Comparable institutional OTC product offering and client profile to MHC, with the additional backing of a major global bank.

Direct peers

• Amber Group: Global institutional crypto financial services firm providing OTC trading, liquidity provision, lending, and asset management. Comparable business model and target customer base to MHC, with stronger Asia footprint.
• Galaxy Digital: Public institutional digital asset platform offering trading, lending, asset management, and advisory. Closely comparable to MHC's combined Markets + Funds Management + Advisory offering, with substantially broader global scale.
• OSL: Licensed institutional digital asset platform operating across Hong Kong, Singapore, and other APAC markets. Directly comparable as a regulated APAC institutional digital asset platform offering OTC, custody, and structured solutions to professional investors.
• Cumberland (DRW): One of the largest institutional crypto liquidity providers, part of DRW Trading. Offers OTC spot and derivatives block trading for institutions — directly comparable product and customer overlap with MHC's institutional OTC desk.
• FalconX: Institutional digital asset prime brokerage providing OTC execution, lending, and custody to hedge funds, asset managers, and corporates. Directly comparable to MHC's MHC Markets OTC desk in customer profile and product set, though at significantly larger global scale.
• Circle Trade: Institutional OTC trading desk operated by Circle, the issuer of USDC. Directly comparable to MHC's OTC service and is one of MHC's named settlement partners (Circle); overlap in customer base (institutions needing deep liquidity and stablecoin rails).
• Coinbase Prime: Institutional prime brokerage from Coinbase providing OTC trading, custody, and financing. Comparable in target customer (institutions, family offices, hedge funds) and core offering (OTC + custody) though operates globally at much larger scale.

Regional players

• Independent Reserve: Australian-headquartered cryptocurrency exchange operating under AUSTRAC registration. Comparable geographic market and regulatory backdrop, though more retail-focused than MHC's institutional-only positioning.
• Binance Australia: Australian arm of global crypto exchange Binance, providing spot trading and OTC services in the same Australian market. Competes for the same institutional/wholesale clients, though with very different scale and licensing posture.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/mhcdigitalgroup?lang=en
• YouTubeyoutube.com/@MHCDigitalGroup
• LinkedInlinkedin.com/company/mhc-digital-group

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MHC DIGITAL LIMITED