Circle Gains Preliminary Approval for Crypto Services in Abu Dhabi

Circle, a leading global financial technology firm and issuer of USDC stablecoin, has received preliminary approval from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) in the United Arab Emirates. This provisional license marks a significant step for Circle in expanding its regulated digital asset operations in the Middle East. Circle incorporated in the Abu Dhabi International Financial Centre in December of the previous year, signaling its intention to establish a strong presence in the region. The preliminary approval allows Circle to further develop its plans for offering digital asset services under ADGM's regulatory framework. This move aligns with Abu Dhabi's strategy to become a hub for innovation in the digital asset space, attracting leading companies like Circle to establish and grow their operations. The final license will be granted upon fulfilling further requirements set by the FSRA. ```