TLDR
- Circle obtains a full FSP license from ADGM, allowing regulated USDC services in the UAE.
- The license enables Circle to expand USDC’s use in payments, settlement, and developer infrastructure across the UAE.
- Circle strengthens its presence in the UAE, joining Dubai’s recognized crypto token regime for USDC.
- Dr. Saeeda Jaffar appointed as Managing Director for Middle East & Africa to lead regional expansion.
- Tether and Binance also secure regulatory approvals from ADGM, boosting UAE’s position as a hub for digital assets.
Circle has received a full Financial Services Permission (FSP) license from the Abu Dhabi Global Market’s Financial Services Regulatory Authority (FSRA). According to a Tuesday press release, this approval allows Circle to operate regulated USDC services within the UAE’s capital market free zone. The license marks a critical step for Circle in expanding its operations across the UAE and the wider Middle East.
Regulatory Approval Boosts Circle’s Operations in UAE
The approval grants Circle the right to offer regulated payment, settlement, and digital asset services tied to USDC. This regulatory recognition establishes Circle’s official presence within one of the world’s fastest-growing hubs for digital assets. The UAE continues to push for regulatory clarity in digital finance, with the ADGM serving as a key player in these efforts.
With this license, Circle can now expand the use of USDC in corporate payments, settlement, and developer infrastructure. This step will help strengthen the UAE’s position as a leading global center for compliant crypto activity. The FSRA’s regulatory framework aims to attract firms like Circle to set up operations in the region.
Circle’s approval in ADGM follows Dubai’s recognition of USDC under the DFSA’s crypto token regime. This strengthens Circle’s position across both of the UAE’s key financial zones. Circle can now offer its services across multiple financial zones within the country, increasing its reach and influence in the region.
Circle Appoints Regional Leader to Accelerate USDC Adoption
As part of its UAE expansion, Circle has appointed Dr. Saeeda Jaffar as Managing Director for the Middle East and Africa. Dr. Jaffar, a senior executive at Visa, will now focus on guiding Circle’s strategy in the region. She will work to build partnerships and drive broader adoption of USDC across business payments and financial infrastructure.
Dr. Jaffar’s appointment signals Circle’s commitment to expanding its presence in the Middle East. Her experience with Visa in the GCC region is expected to help Circle establish stronger connections within the regional financial ecosystem. Dr. Jaffar will also oversee the strategic development of Circle’s services in line with the UAE’s regulatory framework.
Circle co-founder and CEO Jeremy Allaire expressed his enthusiasm about the company’s growth in the region. “Regulatory clarity is the foundation of a more open and efficient internet financial system,” Allaire said. He emphasized the importance of Circle’s partnership with the FSRA in ADGM as essential for expanding the use of USDC in the UAE.
Tether and Binance Follow Circle’s Regulatory Path in ADGM
Circle’s regulatory approval in ADGM follows similar developments from other major stablecoin providers. Earlier, Blockonomi reported that Tether’s USDT stablecoin also received regulatory recognition, allowing licensed institutions to conduct activities involving USDT across multiple blockchains. Tether’s approval in ADGM further solidifies the region’s role in supporting stablecoin operations.
Binance, the world’s largest crypto exchange, has also secured full regulatory authorization to operate under ADGM oversight. Binance will operate through multiple legal entities, including a clearing house and broker-dealer. This move reflects the traditional financial-market structure now emerging in the UAE’s crypto space
With these developments, the UAE continues to position itself as a hub for regulated digital assets. Circle’s recent ADGM license highlights the growing acceptance of stablecoins and digital asset services within the region.
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Source: https://blockonomi.com/circle-secures-adgm-license-approval-to-expand-usdc-services-across-the-uae/