Circle Secures Key License in Abu Dhabi, Expands MENA Operations
- Circle Internet Group has obtained a license from Abu Dhabi Global Market to operate as a regulated Money Services Provider.
- The license is part of Circle’s strategy to expand its presence in the Middle East and North Africa region.
- Circle is known for issuing stablecoin products like USD Coin (USDC).
- This move aligns with recent regulatory developments in the UAE, including a new crypto tax-reporting agreement.
- Binance and Tether have also received similar approvals under the FSRA’s regime this week.
Circle’s acquisition of the ADGM license signals its commitment to establishing a strong foothold in the Gulf region, leveraging Abu Dhabi’s evolving regulatory framework for digital finance.
This strategic expansion comes amid broader efforts by UAE regulators to enhance oversight of digital asset activities, positioning the country as a leader in regulated digital finance. ( Source)
