Source: Cointelegraph
Original: “Circle Obtains Approval from Abu Dhabi Regulator to Expand into Middle East”
On April 29, the U.S. dollar stablecoin issuer Circle announced that it has received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market.
The company stated in an official press release that this approval brings Circle closer to obtaining a full Financial Services Permission (FSP) license, allowing it to operate as a regulated money service provider in the United Arab Emirates.
Circle co-founder and CEO Jeremy Allaire stated that this approval "advances our strategy of establishing a deep foundation in markets embracing the on-chain economy." He added:
"This also underscores Circle's enduring commitment to global stablecoin regulation—enhancing trust, compliance, and adoption worldwide while laying a resilient foundation for the internet financial system."
Comments from Circle's CEO and ADGM Market Development Director on regulatory nod Source: PR
Circle Partners with Hub71
In addition to regulatory progress, Circle also announced a partnership with Abu Dhabi's technology ecosystem Hub71. As part of the collaboration, the two companies plan to work on projects within ADGM's digital regulatory sandbox.
Circle will also join Hub71's digital asset group to share experiences with over 500 tech startups and investors.
Circle's flagship USDC token is the second-largest stablecoin by market capitalization. According to CoinMarketCap, as of now, there are $62.03 billion USDC tokens in circulation.
Meanwhile, as interest in stablecoins grows, Circle has been expanding into new global markets.
In July 2024, Circle became the first global stablecoin issuer to comply with the European Union's Markets in Crypto-Assets (MiCA) regulation.
In Japan, Circle expanded its business through a partnership with SBI Holdings. On March 26, 2025, SBI Holdings' subsidiary SBI VC Trade launched USDC trading, making it the first stablecoin approved under Japan's regulatory framework.
UAE Aims to Position Itself as a Major Web3 Hub
The United Arab Emirates has been actively working to attract leading digital asset companies through progressive regulation and strategic partnerships, positioning itself as a global Web3 hub.
In August 2024, the country ranked third in the cryptocurrency adoption index released by investment migration consultancy Henley & Partners.
On April 6, Dubai's real estate and crypto regulatory authorities signed a new agreement aimed at expanding the application of digital assets in the real estate sector. The agreement will link Dubai's real estate registration with real estate tokenization through a management system.
Related Articles: As U.S. Core PCE, Manufacturing, and Employment Reports Are Released This Week, Bitcoin (BTC) Prices May Enter a Consolidation Phase.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
