Circle Gets Regulatory Go-Ahead in Abu Dhabi as USDC Growth Accelerates
- Circle secured ADGM approval to offer USDC-linked services as stablecoin demand rises across the Middle East
- In-principle approval allows Circle to pursue licensing in UAE under Abu Dhabi’s digital asset framework
- Circle’s UAE move follows MiCA compliance and USDC rollout in Japan via SBI Holdings partnership
Circle, the issuer of the USDC and EURC stablecoins, has received in-principle approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to operate as a money services provider.
This will allow the company to expand its operations in the Middle East. Circle’s CEO Jeremy Allaire highlighted the UAE’s role in fostering innovation in the financial sector, saying that the approval “advances our strategy to establish deep roots in markets embracing the onchain economy.”
Circle Taps Into UAE’s Fintech Ecosystem Through Hub71
To support fintech innovation, Circle has also partnered with Hub71, which is Abu Dhabi’s tech ecosystem. The collaboration includes initiatives like ADGM’s digital regulatory sandbox, providing startups with resources and mentorship.
It’s worth mentioning that near the e…
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UAE’s First Regulated Stablecoin to Be Issued by First Abu Dhabi Bank
Circle Gets Regulatory Go-Ahead in Abu Dhabi as USDC Growth Accelerates
- Circle secured ADGM approval to offer USDC-linked services as stablecoin demand rises across the Middle East
- In-principle approval allows Circle to pursue licensing in UAE under Abu Dhabi’s digital asset framework
- Circle’s UAE move follows MiCA compliance and USDC rollout in Japan via SBI Holdings partnership
Circle, the issuer of the USDC and EURC stablecoins, has received in-principle approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to operate as a money services provider.
This will allow the company to expand its operations in the Middle East. Circle’s CEO Jeremy Allaire highlighted the UAE’s role in fostering innovation in the financial sector, saying that the approval “advances our strategy to establish deep roots in markets embracing the onchain economy.”
Circle Taps Into UAE’s Fintech Ecosystem Through Hub71
To support fintech innovation, Circle has also partnered with Hub71, which is Abu Dhabi’s tech ecosystem. The collaboration includes initiatives like ADGM’s digital regulatory sandbox, providing startups with resources and mentorship.
It’s worth mentioning that near the e…
The post Circle Gets Regulatory Go-Ahead in Abu Dhabi as USDC Growth Accelerates appeared first on Coin Edition.
Read More