Circle secures Abu Dhabi license; eyes payment, settlement expansion in UAE
USDC issuer Circle obtained a financial services license from Abu Dhabi's ADGM to expand regulated payment and settlement services in the UAE.Summary
Circle, the issuer of USDC, has successfully obtained a financial services permission license from the Abu Dhabi Global Market's Financial Services Regulatory Authority (FSRA), enabling it to operate as a money services provider in the UAE. The company plans to leverage this license to expand its regulated payment and settlement services for businesses, developers, and financial institutions across the region. Circle CEO Jeremy Allaire praised the ADGM framework for its high standards in transparency and consumer protection. As part of its regional strategy, Circle appointed Saeeda Jaffar, formerly of Visa, as managing director for the Middle East and Africa to drive the adoption of dollar stablecoins and onchain payment infrastructure. This development follows recent regulatory moves in Abu Dhabi, including Tether receiving recognition for USDT and Binance securing full authorization for its global platform under the ADGM regime.
(Source：The Block)