The issuer of stablecoins Circle has received provisional approval from the Abu Dhabi Global Market (ADGM) Financial Regulatory Authority to operate as a money services provider in Abu Dhabi. This decision, announced on April 29, 2025, paves the way for Circle to expand its operations in the Middle East. Circle, known for its stablecoin USDC, which holds over 31% of the market share of stablecoins on Ethereum, aims to strengthen its presence in a region where the digital economy is rapidly developing.
Circle's CEO Jeremy Aller stated, "This approval supports our strategy to integrate into markets that embrace on-chain economics, creating new opportunities for investment and innovation." The company has also formed a partnership with Hub71, Abu Dhabi's tech ecosystem, to develop digital assets through the ADGM regulatory sandbox, startup grants, and access to institutional networks.
USDC, with a market capitalization of $62 billion, is the second-largest stablecoin in the world. The approval in Abu Dhabi adds Circle to a list of over 60 regulatory licenses, including permits in Singapore and New York. This underscores the growing role of the UAE as a global crypto hub.#Circle #USDC #AbuDhabi #Stablecoin #CryptoExpansion #Blockchain #DigitalEconomy #阿布扎比 #稳定币 #区块链 #加密货币 Subscribe to #MiningUpdates for the latest news!
