USDC stablecoin issuer Circle has received formal approval to operate as a financial service provider within Abu Dhabi’s international financial center, strengthening its presence in the United Arab Emirates. The company announced on Tuesday that Circle Internet Group had secured a Financial Services Permission license from the Financial Services Regulatory Authority of the Abu Dhabi Global Market (ADGM). The authorization allows Circle to function as a Money Services Provider inside the IFC.

Alongside the regulatory milestone, Circle appointed Saeeda Jaffar as managing director for its Middle East and Africa operations. Jaffar, who is also a senior vice president and group country manager for Visa in the Gulf Cooperation Council, will lead regional strategy and partnership development.

Circle co-founder, chairman and CEO Jeremy Allaire said that the regulatory framework in place “sets a high bar for transparency, risk management, and consumer protection,” adding that such standards are needed if “trusted stablecoins” are expected to support payments and financial activity at scale.

Abu Dhabi accelerates licensing for crypto firms

The ADGM has recently issued a series of licenses to major players in the digital asset sector. Earlier this week, Tether’s USDT — the largest stablecoin by circulating supply — achieved its own regulatory recognition in the financial center, while Ripple’s RLUSD gained approval at the end of November.

On Monday, Binance received three separate licenses from Abu Dhabi’s regulator, enabling it to operate exchange, clearing, and broker-dealer services. Bybit obtained its approval earlier in October.

UAE strengthens its position as a crypto hub

The UAE’s central bank has been actively reshaping its digital asset rules. In November, new guidelines were introduced for decentralized finance and the broader Web3 ecosystem. Under Federal Decree Law No. 6 of 2025, platforms, service providers, and infrastructure operators involved in payments, lending, custody, exchange, or investment activities must now be licensed. Local cryptocurrency lawyer Irina Heaver remarked that “DeFi projects can no longer avoid regulation by claiming they are just code.”

Throughout 2024, the UAE solidified its reputation as a leading global crypto hub. The country exempted crypto transfers and conversions from VAT in October, shortly after Dubai’s digital asset regulator tightened its marketing rules. The Ras Al Khaimah Digital Assets Oasis also moved to establish a regulatory framework for decentralized autonomous organizations.

Enforcement has been active as well, with Dubai’s Virtual Assets Regulatory Authority issuing fines and cease-and-desist orders to several unlicensed crypto businesses.

Sources:

https://cointelegraph.com/news/circle-adgm-license-abu-dhabi-stablecoin-uae

https://x.com/circle/status/1998265240081826117