{"id":128200,"date":"2025-04-29T12:22:30","date_gmt":"2025-04-29T12:22:30","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128200"},"modified":"2025-04-29T12:22:30","modified_gmt":"2025-04-29T12:22:30","slug":"circle-gets-abu-dhabi-regulatory-nod-to-expand-in-middle-east","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128200","title":{"rendered":"Circle gets Abu Dhabi regulatory nod to expand in Middle East"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsUSDC stablecoin issuer Circle has received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), the company announced on April 29.<br \/>\nThe approval moves Circle closer to obtaining a full Financial Services Permission (FSP) license, allowing it to operate as a regulated money services provider in the United Arab Emirates, the firm said in an official press release.<br \/>\nJeremy Allaire, Circle\u2019s Co-Founder and CEO, said the approval \u201cadvances our strategy to establish deep roots in markets embracing the onchain economy.\u201d He added:<br \/>\n\u201cIt also underscores Circle\u2019s enduring commitment to global stablecoin oversight\u2014strengthening trust, compliance, and adoption worldwide, while laying a resilient foundation for the internet financial system.\u201d<br \/>\nComments from Circle CEO and Chief of Market Development at ADGM regarding the regulatory nod. Source: PR Related: Circle files for Initial Public Offering planned for April<br \/>\nCircle partners with Hub71<br \/>\nIn addition to regulatory progress, Circle announced a partnership with Hub71, Abu Dhabi\u2019s tech ecosystem. As part of the collaboration, the two firms plan to work together on projects within ADGM\u2019s digital regulatory sandbox.<br \/>\nCircle will also join Hub71\u2019s digital assets group, sharing its experience with a community of more than 500 tech startups and investors.<br \/>\nCircle\u2019s flagship USDC token is the second-largest stablecoin in terms of market capitalization. As of now, there are $62.03 billion USDC (USDC) tokens in circulation, according to data from CoinMarketCap.<br \/>\nMeanwhile, Circle has been pushing into new global markets amid rising interest in stablecoins.<br \/>\nIn July 2024, Circle became the first global stablecoin issuer to comply with the European Union\u2019s Markets in Crypto-Assets (MiCA) regulation.<br \/>\nIn Japan, Circle expanded its presence through a partnership with SBI Holdings. On March 26, 2025, SBI VC Trade, a subsidiary of SBI Holdings, launched USDC trading, making it the first stablecoin approved under Japan\u2019s regulatory framework.<br \/>\nRelated: Circle executive denies claims of seeking US banking license<br \/>\nUAE aims to position itself a major Web3 hub<br \/>\nThe United Arab Emirates has been actively working to establish itself as a global Web3 hub, leveraging progressive regulation and strategic partnerships to attract leading digital asset firms.<br \/>\nIn August 2024, the country\u00a0ranked third in a crypto adoption index released by Henley &amp; Partners, an investment migration consultancy firm.<br \/>\nOn April 6, Dubai\u2019s real estate and crypto regulatory authorities signed a new agreement aimed at expanding digital asset adoption in the real estate sector. The agreement will link Dubai\u2019s real estate registry with property tokenization through a governance system.\u00a0<br \/>\nMagazine: Bitcoin price consolidation likely as US Core PCE, manufacturing, and jobs reports print this week<a href=\"https:\/\/cointelegraph.com\/news\/circle-abu-dhabi-adgm-approval-middle-east-expansion?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsUSDC stablecoin issuer Circle has received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), the company announced on April&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128200"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128200"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128200\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128200"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}