Circle - the issuer of the stablecoin pair USDC and EURC - has made notable international progress after the Financial Services Regulatory Authority in Abu Dhabi granted it preliminary approval to operate as a licensed financial services provider in the Abu Dhabi Global Market; a step that paves the way for the company's global expansion and brings it closer to its planned initial public offering (IPO).
The approval granted to Circle by the FSRA represents a key step towards obtaining a full license to operate within the Abu Dhabi Global Market, and the company joined the Abu Dhabi Global Market last December. This approval means that it currently meets the initial conditions to conduct its activities in the region.
In this regard, Jeremy Allaire - CEO of Circle - stated: “The United Arab Emirates is creating a conducive environment for responsible innovators to establish the electronic financial ecosystem,” explaining that “the preliminary approval from the Abu Dhabi Global Market supports our strategy to establish a strong presence in markets seeking to adopt blockchain-based economic systems.”
