The post USDC Issuer Circle Gains Regulatory Momentum in the UAE appeared on BitcoinEthereumNews.com.

This latest milestone is part of Circle’s broader strategy to engage with jurisdictions that support the on-chain economy. Circle also recently partnered with Hub71 to contribute its stablecoin expertise to Abu Dhabi’s growing tech ecosystem. Meanwhile, three of Abu Dhabi’s top financial institutions—ADQ, First Abu Dhabi Bank, and International Holding Company—announced plans to launch a UAE dirham-backed stablecoin as part of the country’s ambition to become a blockchain innovation hub. In the US, the Senate is preparing to vote on the GENIUS Act, which would tighten stablecoin regulation. Scrutiny is also mounting over President Trump’s ties to stablecoin ventures like USD1. Circle Strengthens Middle East Presence Circle, the issuer of the USDC stablecoin, secured in-principle approval from the Financial Services Regulatory Authority of the Abu Dhabi Global Market, which is a major step toward obtaining a full Financial Services Permission license in the United Arab Emirates. This approval will allow Circle to function as a regulated money services provider in the region.  Jeremy Allaire, Circle’s Co-Founder and CEO, called this move a strategic effort to deepen the company’s presence in jurisdictions that support the growth of the on-chain economy The company is fully committed to encouraging global trust and compliance in the stablecoin sector. Statement from Circle’s CEO (Source: Press Release) Alongside the regulatory milestone, Circle also entered into a partnership with Hub71, Abu Dhabi’s tech ecosystem, to collaborate on innovation projects in ADGM’s digital regulatory sandbox. The company will contribute to Hub71’s digital assets group by bringing its stablecoin expertise to a community of over 500 startups and investors.  Circle’s knowledge could contribute a lot. With over $62 billion USDC tokens in circulation, USDC is still the world’s second-largest stablecoin by market capitalization. Top stablecoins by market cap (Source: CoinMarketCap) Circle’s expansion into the UAE complements its broader global strategy.…

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Filed under: News - @ April 30, 2025 7:20 am