#AbuDhabiStablecoin Circle receives regulatory approval in Abu Dhabi to expand in the Middle East

Circle received preliminary approval from Abu Dhabi regulators, moving closer to the launch of regulated stablecoin services and expanding the global adoption of USDC.

The issuer of the USDC stablecoin, Circle, has received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), the company announced on April 29.

The approval brings Circle closer to obtaining a full Financial Services Permission (FSP) license, allowing it to operate as a regulated money services provider in the United Arab Emirates, the firm reported in an official press release.