Circle gets Abu Dhabi regulatory nod to expand in Middle East

Circle received in-principle approval from Abu Dhabi regulators, moving closer to launching regulated stablecoin services and expanding global USDC adoption.

USDC stablecoin issuer Circle has received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), the company announced on April 29.

The approval moves Circle closer to obtaining a full Financial Services Permission (FSP) license, allowing it to operate as a regulated money services provider in the United Arab Emirates, the firm said in an official press release.

Jeremy Allaire, Circle’s Co-Founder and CEO, said the approval “advances our strategy to establish deep roots in markets embracing the onchain economy.” He added:

Read more