Circle gets Abu Dhabi regulatory nod to expand in Middle East
Circle has received in-principle approval from the Financial Services Regulatory Authority of the Abu Dhabi Global Market, moving closer to a full Financial Services Permission license to operate as a regulated money services provider in the UAE. This approval supports Circle's strategy to deepen its presence in markets embracing the onchain economy and emphasizes its commitment to global stablecoin oversight. Circle has partnered with Hub71, Abu Dhabi’s tech ecosystem, to collaborate on projects within ADGM’s digital regulatory sandbox and join Hub71’s digital assets group. Circle's USDC token is the second-largest stablecoin by market capitalization, with $62.03 billion in circulation. The UAE aims to become a major Web3 hub, having ranked third in a recent crypto adoption index. Dubai's authorities have signed an agreement to enhance digital asset adoption in real estate through property tokenization.
