Circle’s FSRA approval in Abu Dhabi sets stage for significant USDC expansion across the Middle East and Africa.
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Circle, the issuer of the USDC stablecoin, has secured initial approval from the Financial Services Regulatory Authority (FSRA) in Abu Dhabi.
The approval, announced on April 29, allows Circle to move closer to receiving a full Financial Services Permission (FSP) to operate within the Abu Dhabi Global Market (ADGM).
This progress comes just months after Circle’s incorporation in ADGM in December 2024. It marks a significant step in the stablecoin issuer’s plan to offer compliant financial services across the Middle East and Africa (MEA).
Circle stated that the approval strengthens its position as a trusted player in the expanding world of regulated digital finance.
The firm continued that the move would allow it to expand the reach of USDC, the second-largest US dollar-pegged stablecoin by market capitalization, throughout the Middle East.
According to the firm, this would significantly boost USDC’s adoption in a region increasingly turning toward digital assets and adequately compete against Tether’s USDT, the largest stablecoin by market cap.
Circle’s CEO, Jeremy Allaire, said:
“[This creates] new pathways for investment and innovation in the region. It also underscores Circle’s enduring commitment to global stablecoin oversight—strengthening trust, compliance, and adoption worldwide, while laying a resilient foundation for the internet financial system.”
Beyond its regulatory success, Circle has partnered with Hub71, Abu Dhabi’s leading global tech ecosystem.
This partnership is focused on promoting digital asset innovation and strengthening the region’s fintech infrastructure.
Circle will work with Hub71 to tap into ADGM’s digital regulatory sandbox, a framework designed to test and support new financial technologies. The collaboration will give fintech founders access to grants, funding networks, and opportunities to scale their businesses.
Additionally, Circle will become part of Hub71’s Digital Assets Specialist ecosystem. This growing community includes more than 500 tech startups and venture capital partners.
Ahmad Ali Alwan, CEO of Hub71, said:
“Circle’s expertise will enrich our digital assets ecosystem, providing Hub71 founders with greater access to resources, mentorship, and growth opportunities. Through this partnership, we are enabling the adoption of leading digital financial infrastructure that supports startup growth and drives the evolution of Web3 and digital finance from Abu Dhabi.”
Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
Also known as “Akiba,” Liam Wright is the Editor-in-Chief at CryptoSlate and host of the SlateCast. He believes that decentralized technology has the potential to make widespread positive change.
Stay ahead with crypto’s key news and insights. Delivered directly, every day.
CryptoSlate’s latest report dives deep into how and why the CME gap emerges and why it almost always disappears.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
P2P.org joins TRON’s mission to enhance blockchain internet infrastructure with advanced staking solutions.
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. CryptoSlate has no affiliation or relationship with any coin, business, project or event unless explicitly stated otherwise. CryptoSlate is only an informational website that provides news about coins, blockchain companies, blockchain products and blockchain events. None of the information you read on CryptoSlate should be taken as investment advice. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own diligence before making any investment decisions. CryptoSlate is not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on the site.
© 2025 CryptoSlate. All rights reserved. Disclaimers | Terms | Privacy
Please add “[email protected]“ to your email whitelist.
Stay connected via
