Circle Secures Financial Services License in Abu Dhabi for USDC Operations
- Circle has obtained a Financial Services Permission (FSP) license from the Abu Dhabi Global Market (ADGM).
- The license allows Circle to operate as a Money Services Provider in the UAE’s regulated crypto ecosystem.
- Dr. Saeeda Jaffar has been appointed as managing director for Middle East and Africa, previously with Visa.
- This approval follows Circle’s earlier recognition in Dubai under the Dubai Financial Services Authority’s crypto regime.
- The UAE is becoming a significant hub for regulated digital assets, with stablecoins like USDC gaining traction globally.
Circle’s new license enhances its ability to provide USDC for business payments and settlements across the UAE, contributing to the growing acceptance of stablecoins in global finance.
With this license, Circle can now leverage its $78 billion stablecoin offerings more effectively in a key financial market.(Source)
