Circle Receives Regulatory Approval from Abu Dhabi for USDC Expansion
Circle, issuer of the USDC stablecoin, received in-principal regulatory approval from Abu Dhabi's Financial Services Regulatory Authority (FSRA) to operate as a money services provider. This marks progress towards a full license following its incorporation in December.
- The approval supports Circle's strategy to expand in the Middle East.
- A partnership with Hub71 will enhance initiatives within Abu Dhabi’s tech ecosystem.
- Circle is currently in a "quiet period" after filing for an IPO in the U.S.
- The stablecoin market has a capitalization of approximately $230 billion.
- USDC, backed by dollar assets, has a supply of $62 billion, growing over 40% in 2025.
- Circle has been actively pursuing global regulations, previously complying with EU's MiCA regulations and launching USDC in Japan.
Circle also introduced a cross-border payments network to increase stablecoin adoption.