Key Points
- Circle received In-Principle Approval from Abu Dhabi Global Market’s FSRA.
- The move follows the company’s incorporation in ADGM in December 2024.
In an official press release, Circle announced it has received an important operations approval in Abu Dhabi, securing a new partnership while expanding its UAE reach.
Circle is a global technology company and stablecoin market leader.
We’ve received In-Principle Regulatory Approval from @ADGlobalMarket! 🇦🇪
We have also entered into a strategic collaboration with @hub71ad, to strengthen innovation within the digital assets space, and advance access to trusted, transparent, and regulated stablecoin… pic.twitter.com/iPwyBmZTIu
— Circle (@circle) April 29, 2025
Circle Can Officially Operate as a Money Services Provider in Abu Dhabi
Circle announced that it has received an In-Principal Approval (IPA) from the Abu Dhabi Global Market’s Financial Services Regulatory Authority (FSRA) to operate as a money services provider.
According to official notes, this is a step forward towards securing a Financial Services Permission (FSP) under the ADGM’s regulatory framework, supporting the company’s compliance efforts in the Middle East and Africa (MEA).
Jeremy Allaire, co-founder and CEO at Circle, said that the UAE paves the way for responsible innovators to build the “Internet financial system”. He continued and said that Circle’s latest achievement in the region pushes forward its strategy to establish an important position in the on-chain economy markets.
Allaire highlighted the company’s strong commitment to global stablecoin oversight while enhancing trust, compliance, and global adoption. He also mentioned Circle’s efforts to lay a resilient foundation for the Internet financial system.
Circle’s Contribution to ADGM’s Ecosystem
Chief of Market Development at ADGM, Arvind Ramamurthy, also addressed the latest event, highlighting Circle’s contribution to the dynamic ecosystem with its:
- Regulatory-first approach
- Commitment to innovation
- Global credibility in the stablecoin space
He expressed his excitement to work with Circle as the company expands operations, boosting the adoption of digital finance in the UAE.
Meanwhile, Circle’s Chief Strategy Officer and Head of Global Policy and Operations, Dante Disparte, said that the company’s recent achievement mirrors the way in which trusted infrastructure, created with compliance and transparency at its forefront, can advance safe adoption of stablecoins globally.
Other Circle Recent UAE Advancements
The official press release also mentioned that Circle announced a strategic collaboration with Hub71, Abu Dhabi’s global tech ecosystem, strengthening innovation within the crypto space.
The partnership between Circle and Hub71 will:
- Explore initiatives around ADGM’s digital regulatory sandbox
- Offer founders access to grants and institutional networks
- Provide opportunities to accelerate fintech innovation via hackathons, educational workshops, and mentorship programs
Circle will join Hub71’s Digital Assets specialist ecosystem, including a global community of more than 500 tech startups and VC partners.
Hub71’s CEO, Ahmad Ali Alwan, highlighted that this partnership places Abu Dhabi as a global hub for FinTech and crypto, while Circle’s expertise will enrich the ecosystem, enabling stronger digital financial infrastructure adoption, driving Web3 evolution in Abu Dhabi.
It’s also worth mentioning that Circle was incorporated in ADGM in December 2024 and has been continually making efforts to expand its presence in the UAE.
Circle’s stablecoin, USDC, continues to demonstrate its strength as a leading platform for global financial inclusion, becoming the first major stablecoin issuer compliant with the EU’s MiCA regulations in 2024.
