Circle, the issuer of the USDC stablecoin, has received in-principle approval from the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM) to operate as a money services provider, according to a release shared with The Block.
The approval marks another major step in Circle’s ongoing global expansion strategy, especially in the Middle East and Africa. In December 2024, Circle incorporated a new legal entity within the ADGM jurisdiction to deepen its regional presence.
Pushing Global Stablecoin Adoption
Circle Co-Founder and CEO Jeremy Allaire highlighted the significance of the move, calling the UAE a leader in fostering responsible innovation in finance.
“The UAE is paving the way for responsible innovators to build the internet financial system,” Allaire said. He emphasized that the approval aligns with Circle’s broader goal of supporting global stablecoin oversight, strengthening trust, compliance, and adoption across key international markets.
Positioning for Growth in Emerging Markets
Circle’s approval positions it to leverage the growing appetite for digital assets and on-chain finance solutions across emerging economies. By rooting itself in jurisdictions like Abu Dhabi, Circle aims to create new pathways for regional investment, digital finance innovation, and global adoption of stablecoins.
Kosta Gushterov
Reporter at Coindoo
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Source: https://coindoo.com/circle-secures-key-approval-to-expand-stablecoin-services-in-abu-dhabi/