TLDR:
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Circle gets in-principle approval from Abu Dhabi’s ADGM to operate as a money services provider.
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The approval follows Circle’s incorporation in ADGM in late 2024.
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Circle aims to grow USDC adoption across the Middle East and Africa.
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A full license is likely in the coming months, based on precedent from Singapore.
Circle Gains Key Approval in UAE Expansion Push
Circle has secured in-principle approval from the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM) to operate as a money services provider. This strategic move strengthens its position in the Middle East.
Building Trust Through Regulation
CEO Jeremy Allaire called the approval a step toward responsible stablecoin adoption and financial innovation. He emphasized Circle’s goal to foster trust and compliance globally while deepening market presence in crypto-forward regions.
ADGM’s Regulatory Framework Welcomes Crypto Firms
ADGM is a leading financial hub in the UAE with an independent regulatory structure. In-principle approval means Circle has met preliminary standards and is likely to receive a full license soon — similar to its trajectory in Singapore in 2022.
USDC’s Growing Role in Global Finance
Circle issues USDC, which represents over 31% of all stablecoins on Ethereum. The firm is also preparing for a U.S. IPO, signaling broader ambitions as stablecoins play a growing role in the global financial system.
