- Circle has received in-principle approval from Abu Dhabi’s FSRA to operate as a money services provider, supporting its expansion across the Middle East.
- This regulatory milestone comes as USDC’s market cap climbs to $62 billion, driven by rising global demand for stablecoins and Circle’s growing international presence.
Circle, the issuer behind the world’s second-largest stablecoin, USDC, has received in-principle approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM),
This preliminary regulatory nod allows Circle to operate as a money services provider and brings the company one step closer to securing a full license within the region.
This development follows Circle’s incorporation in the ADGM financial hub last December and aligns with its broader global push to establish itself in jurisdictions embracing blockchain innovation and stablecoin adoption.
This approval advances our strategy to establish deep roots in markets embracing the onchain economy, creating new pathways for investment and innovation in the region,
Circle CEO Jeremy Allaire said in a statement.
In tandem with the regulatory green light, Circle has also partnered with Hub71, Abu Dhabi’s tech ecosystem. The collaboration includes initiatives within ADGM’s digital regulatory sandbox, startup grants, and access to institutional networks, further embedding Circle into the region’s innovation-driven financial environment.
While Circle remains tight-lipped about specific expansion plans in the Middle East due to a “quiet period” following its U.S. IPO filing, this move signals its growing focus on regulatory compliance and international growth.
The approval in Abu Dhabi follows similar strides in other global markets. Notably, Circle became the first major stablecoin issuer to comply with the European Union’s Markets in Crypto-Assets (MiCA) regulations and launched USDC in Japan through a partnership with SBI Holdings.
USDC, Circle’s flagship dollar-pegged stablecoin, now boasts a circulating supply of $62 billion, up over 40% in 2025 alone. Its increasing adoption is driven by the rising demand for stablecoins as a low-cost, efficient alternative to traditional payment and remittance systems.
Stablecoins are fast becoming a vital component of the global digital economy, with the total stablecoin market capitalization hovering around $230 billion, according to data from rwa.xyz.
Further bolstering its ecosystem, Circle recently unveiled a cross-border payments network designed to increase the utility and adoption of USDC across financial and commercial sectors. This launch underscores Circle’s long-term vision to make USDC a cornerstone of global digital finance.
With regulatory momentum building and strategic partnerships forming, Circle’s latest move into Abu Dhabi positions it at the heart of one of the world’s most forward-looking fintech hubs—while further reinforcing USDC’s ascent as a trusted stablecoin on the global stage.