Circle Secures ADGM License

Circle, the issuer of the $78 billion USDC stablecoin, has announced that it has obtained a Financial Services Permission (FSP) license from the Abu Dhabi Global Market. With approval from the local regulator, the company can now operate in the United Arab Emirates as a licensed money services provider. This follows the initial approval granted in April.

Circle also revealed that Dr. Saeeda Jaffar has been appointed as Managing Director for the Middle East and Africa. She joins the company from Visa, where she previously held senior leadership roles.

The new license will allow Circle to further expand the use of USDC in payments and settlements across the UAE. Earlier, both USDC and EURC were included in Dubai’s regulatory framework, paving the way for broader adoption within the local financial sector.

The UAE continues to strengthen its position as a hub for digital asset businesses. The decision regarding Circle comes just one day after Binance received approvals in Abu Dhabi for exchange, clearing, and brokerage services.

Stablecoins like USDC are becoming increasingly important in the global financial system. They play a growing role in cross-border payments, especially in regions where traditional banking services are hard to access or come with high costs.