#AbuDhabiStablecoin In today's data, Circle, the issuer of the USDC stablecoin, announced that it has received preliminary approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM).

The approval allows Circle to take another step towards obtaining the full Financial Services Permission (FSP) license, which will enable it to operate as a regulated money service provider in the United Arab Emirates, according to an official press release.

Jeremy Allaire, co-founder and CEO of Circle, stated that the approval "advances our strategy to deeply root ourselves in markets that embrace the on-chain economy." He added:

It also underscores Circle's ongoing commitment to global oversight of stablecoins, reinforcing trust, compliance, and adoption worldwide, while laying a solid foundation for the Internet financial system.