Circle has received approval from the Abu Dhabi regulatory authority and will expand into the Middle East market.

Source: Cointelegraph Original: "Circle has obtained approval from the Abu Dhabi regulatory authority and will expand into the Middle East market"

On April 29, Circle, the issuer of the US dollar stablecoin, announced that it has received in-principle approval (IPA) from the Abu Dhabi Global Market Financial Services Regulatory Authority (FSRA).

The company stated in an official press release that this approval brings Circle closer to obtaining a full Financial Services Provider (FSP) license, allowing it to operate as a regulated money service provider in the United Arab Emirates.

Jeremy Allaire, co-founder and CEO of Circle, stated that this approval "advances our strategy of building a strong foundation in the market for embracing on-chain economies." He added:

"This also highlights Circle's enduring commitment to global stablecoin regulation - strengthening trust, compliance, and adoption globally, while laying a resilient foundation for the internet financial system."

The CEO of Circle and the head of market development at ADGM commented on the approval of regulations. Source: PR

Circle collaborates with Hub71

In addition to progress on regulatory matters, Circle also announced a partnership with Abu Dhabi's technology ecosystem Hub71. As part of the collaboration, the two companies plan to work on projects within the digital regulatory sandbox of ADGM.

Circle will also join Hub71's digital asset group to share experiences with over 500 technology startups and investors.

Circle's flagship USDC token is the second largest stablecoin by market capitalization. According to CoinMarketCap data, there is currently $62.03 billion of USDC tokens in circulation.

At the same time, as people's interest in stablecoins continues to grow, Circle has been expanding into new global markets.

In July 2024, Circle became the first global stablecoin issuer to comply with the European Union's Markets in Crypto-Assets (MiCA) regulation.

In Japan, Circle has expanded its business scope through collaboration with SBI Holdings. On March 26, 2025, SBI Holdings' subsidiary SBI VC Trade launched USDC trading, making it the first stablecoin approved under the Japanese regulatory framework.

The UAE aims to position itself as a major Web3 hub.

The United Arab Emirates has been actively working to attract leading digital asset companies by leveraging progressive regulation and strategic partnerships, positioning itself as a global Web3 hub.

In August 2024, the country ranked third in the cryptocurrency adoption index released by the investment immigration consulting company Henley & Partners.

On April 6, Dubai's real estate and cryptocurrency regulatory authorities signed a new agreement aimed at expanding the application of digital assets in the real estate industry. The agreement will connect Dubai's real estate registration with real estate tokenization through a management system.

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