On this day, 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.