Stablecoin issuer Circle has secured regulatory approval to function as a monetary service supplier within the Abu Dhabi Worldwide Monetary Heart, deepening its push into the United Arab Emirates.
In an announcement Tuesday, Circle Web Group mentioned it obtained a Monetary Companies Permission license from the Monetary Companies Regulatory Authority of the Abu Dhabi International Market (ADGM), the Worldwide Monetary Centre of Abu Dhabi. This enables the stablecoin issuer to function as a Cash Companies Supplier within the IFC.
The USDC (USDC) issuer additionally appointed Saeeda Jaffar as its managing director for Circle Center East and Africa. The brand new government additionally serves as a senior vp and group nation supervisor for the Gulf Operation Council at Visa and might be tasked with growing the stablecoin issuer’s regional technique and partnerships.
Circle co-founder, chairman and CEO Jeremy Allaire mentioned that the related regulatory framework “units a excessive bar for transparency, threat administration, and client safety,” including that these requirements are wanted if “trusted stablecoins” are going to help funds and finance at scale.
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Abu Dhabi awards a wave of licenses
The ADGM has lately awarded licenses for monetary operations to a wave of crypto corporations. Earlier this week, Tether’s USDt (USDT) — the most important stablecoin by circulation and Circle’s prime competitor — secured a regulatory milestone in Abu Dhabi’s worldwide monetary middle, as did Ripple’s dollar-pegged stablecoin Ripple USD on the finish of November.
On Monday, crypto change Binance was granted three separate licenses from Abu Dhabi’s monetary regulator, permitting it to function its change, clearing home and broker-dealer providers. This adopted its competitor Bybit receiving regulatory approval within the UAE in early October.
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UAE bets on crypto
The Central Financial institution of the UAE has been actively reviewing its cryptocurrency laws. In November, it launched guidelines for decentralized finance (DeFi) and the broader Web3 business.
The newly launched Federal Decree Legislation No. 6 of 2025 brings DeFi platforms, associated providers and infrastructure suppliers beneath the scope of laws if they permit funds, change, lending, custody, or funding providers, with licenses now required. Native crypto lawyer Irina Heaver mentioned that “DeFi initiatives can now not keep away from regulation by claiming they’re simply code.”
Heaver informed Cointelegraph on the finish of 2024 that in that yr the nation cemented its standing as a world crypto hub.
In October 2024, the UAE exempted cryptocurrency transfers and conversions from value-added tax, only a month after Dubai’s digital asset regulator introduced stricter guidelines on crypto advertising. Across the identical time, native free financial zone Ras Al Khaimah Digital Belongings Oasis was additionally working to introduce a authorized framework for decentralized autonomous organizations.
Native regulators weren’t shy about imposing the foundations, with Dubai’s Digital Belongings Regulatory Authority cracking down on seven unlicensed crypto companies, issuing fines and cease-and-desist orders.
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