#StablecoinPayments The UAE gives approval to the stablecoin issuer Circle to provide money service activities.

Circle aims for greater influence in the UAE.

Circle Internet Group, a leading global fintech company and issuer of the stablecoin USDC, has received preliminary approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). The approval, which allows Circle to operate as a money service provider, demonstrates its commitment to fostering innovation within the regulatory framework of digital finance.

In a statement announcing the receipt of the IPA, Circle reported that this approval is an important step towards obtaining full Financial Services Permission (FSP) under the progressive regulatory framework of the ADGM. This development follows Circle's registration in the ADGM in December 2024 and expands its presence in the United Arab Emirates (UAE).