Circle receives regulatory approval in Abu Dhabi to expand in the Middle East
Circle, the issuer of the USDC stablecoin, has received preliminary approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), as announced by the company on April 29.
This approval brings Circle closer to obtaining a full Financial Services Permission (FSP) license, which will allow the company to operate as a regulated provider of financial services in the United Arab Emirates, according to an official statement.
Jeremy Allaire, co-founder and CEO of Circle, stated that the approval "advances our strategy to establish a strong foothold in markets that embrace the on-chain economy." He added:
"It also reinforces Circle's enduring commitment to the global oversight of stablecoins — strengthening trust, compliance, and adoption worldwide, while we build a resilient foundation for the internet's financial system."