Circle Expands UAE Presence with Regulatory Approval and Partnership with Hub71

Circle, a global technology company and stablecoin market leader, has received In-Principle Regulatory Approval from Abu Dhabi Global Market's Financial Services Regulatory Authority to operate as a money services provider. The company has also entered into a strategic collaboration with Hub71, Abu Dhabi's global tech ecosystem, to strengthen innovation within the digital assets space.

Circle, a global technology company and stablecoin market leader, has received In-Principle Regulatory Approval (IPA) from Abu Dhabi Global Market's Financial Services Regulatory Authority (FSRA) to operate as a money services provider. This milestone positions the company to deepen its regional presence and scale its partnerships across the Middle East and Africa (MEA) financial ecosystem [3].

The approval marks a significant step towards Circle securing a Financial Services Permission (FSP) under ADGM’s progressive regulatory framework, reinforcing the company's commitment to enabling compliant innovation in digital finance throughout the region. This development follows Circle's incorporation in ADGM in December 2024 and builds on its expanding presence across the UAE [3].

Circle's CEO, Jeremy Allaire, expressed his optimism about the move: "The UAE is paving the way for responsible innovators to build the internet financial system. This IPA from ADGM advances our strategy to establish deep roots in markets embracing the onchain economy, creating 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" [3].

In addition to the regulatory approval, Circle has entered into a strategic collaboration with Hub71, Abu Dhabi's global tech ecosystem, to strengthen innovation within the digital assets space. The partnership will explore initiatives around ADGM’s digital regulatory sandbox, offering founders access to grants, institutional networks, and opportunities to accelerate fintech innovation through hackathons, educational workshops, and mentorship programs. Circle will join Hub71’s Digital Assets specialist ecosystem, contributing its global expertise to a community of more than 500 tech startups and venture capital partners [3].

Circle's push into the Middle East aligns with the region's growing interest in digital finance and stablecoins. The Middle East, and particularly the UAE, has become a magnet for crypto and fintech innovators due to its forward-looking approach and clear regulations. The region is positioning itself as a launchpad for the next phase of finance and Web3 infrastructure [2].

Circle's USDC token, the world’s second-largest stablecoin, has seen a significant increase in its circulating supply, reaching $62 billion in 2025, up over 40% from the previous year. The stablecoin market capitalization is now around $230 billion, according to rwa.xyz data [1].

Circle's strategic move into the Middle East is part of its broader global stablecoin strategy, which includes compliance with the EU’s MiCA regulations and the launch of USDC in Japan through a partnership with SBI Holdings [1].

References:
[1] https://www.coindesk.com/business/2025/04/29/circle-wins-regulatory-nod-from-abu-dhabi-watchdog-as-usdc-hits-usd62b
[2] https://coinpedia.org/news/usdc-issuer-circle-approved-in-abu-dhabi-taps-into-middle-east-crypto-boom/
[3] https://www.businesswire.com/news/home/20250429414167/en/Circle-Secures-In-Principle-Regulatory-Approval-from-ADGMs-FSRA