Circle, the issuer of the USDCstablecoin , has taken a major step forward in its expansion plans into the Middle East after receiving a financial services license from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). This license allows Circle to operate as a money service provider in the country.
In the announcement , Circle said it will roll out managed payments and settlement services for businesses, developers, and financial institutions in the UAE.
CEO Jeremy Allaire said that ADGM's regulatory framework “sets high standards of transparency, risk management, and consumer protection – essential elements for trustworthy stablecoins to operate internet-scale payments.”
ADGM is a special economic zone and international financial centre of Abu Dhabi, operating under its own legal and regulatory system. The FSRA acts as the primary licensing and supervisory authority.
To strengthen its presence in the region, Circle appointed Saeeda Jaffar – former Visa head for the GCC region – as Managing Director for the Middle East & Africa. She will lead strategy, build institutional relationships, and drive the use of USD stablecoins and on-chain payment infrastructure in the UAE and MEA.
Circle ’s announcement comes on the heels of other big news in Abu Dhabi related to crypto companies:
• Tether recognized USDT as a valid fiat reference asset in ADGM, allowing licensed companies to use USDT on multiple blockchains such as Aptos, Cosmos, TON, and TRON.
• Binance receives full approval for Binance.com to operate under the ADGM framework, including three licenses: exchange, clearing, and brokerage. Expected to operate from January 5, 2026.
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