Nikolas Sargeant
Circle has obtained a Financial Services Permission license from Abu Dhabi Global Market's regulatory authority, establishing the stablecoin issuer as a fully authorized Money Services Provider within the UAE's premier financial free zone and marking a significant milestone in the region's emerging digital asset infrastructure.
The approval from ADGM's Financial Services Regulatory Authority grants Circle comprehensive authorization to deliver regulated payment processing, settlement solutions, and digital asset services centered on its USDC stablecoin throughout Abu Dhabi's capital market jurisdiction. The licensing represents a strategic regulatory validation for Circle as the UAE accelerates efforts to position itself as a leading jurisdiction for compliant cryptocurrency operations.
"Regulatory clarity is the foundation of a more open and efficient internet financial system. We are honored to work with the FSRA in ADGM," Circle co-founder and CEO Jeremy Allaire stated in Tuesday's announcement.
To support regional expansion, Circle named Dr. Saeeda Jaffar as Managing Director for the Middle East and Africa. Dr. Jaffar, currently a senior executive at Visa managing Gulf Cooperation Council operations, will direct Circle's strategic initiatives, cultivate institutional partnerships, and advance USDC integration into corporate payment systems and financial infrastructure across the UAE and surrounding markets.
The ADGM authorization complements Circle's existing regulatory standing in Dubai, where the Dubai Financial Services Authority previously recognized both USDC and EURC under its digital token framework. Circle now maintains formal operating permissions across both of the UAE's principal financial centers, providing expanded access to the federation's rapidly developing digital economy.
Circle plans to leverage the license to broaden regulated USDC deployment in enterprise payment applications, cross-border settlement networks, and developer tools throughout the region. The company's regulatory progression aligns with Abu Dhabi's broader strategy to attract digital asset firms seeking jurisdictions with established compliance frameworks for fiat-referenced tokens and blockchain-based financial products.
The UAE has witnessed accelerating regulatory activity in digital assets. Tether recently secured approval for its USDT stablecoin as a recognized fiat-referenced token across multiple blockchain networks within ADGM, including Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON, and TRON, supplementing earlier authorization on Ethereum, Solana, and Avalanche. Binance announced Monday it received comprehensive authorization to operate its primary Binance.com platform under ADGM supervision, deploying three separate legal entities, an exchange, clearinghouse, and broker-dealer, structured to facilitate regulated trading, custody, settlement, and over-the-counter services following extended regulatory examination.
Stablecoin adoption has expanded significantly since President Donald Trump enacted the GENIUS Act in July 2024, establishing federal guidelines for stablecoin issuance and regulatory oversight in the United States. The legislation catalyzed numerous stablecoin programs from traditional financial institutions including Bank of America, Morgan Stanley, and Robinhood, reflecting mainstream finance's growing engagement with digital dollar instruments.
