Circle Secures Full ADGM License to Offer Regulated USDC Services in UAE

• Circle obtains an FSP license from ADGM, allowing regulated USDC services in the UAE’s financial zone.
• Dr. Saeeda Jaffar joins Circle as MD for the Middle East & Africa to expand USDC adoption.
• Binance secures full authorization from ADGM to operate its platform under regulatory oversight.

Circle has achieved a significant regulatory victory in the United Arab Emirates by obtaining a Financial Services Permission (FSP) license from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market.

The license will also allow Circle to operate as a fully licensed Money Services Provider in the capital market free zone of the UAE, according to a press release issued by the company on Tuesday.

It allows Circle to offer regulated payment, settlement, and digital-asset services connected to USDC, which gives the company a formal presence in one of the most rapidly developing centers of compliant crypto activity in the world.

Circle Collaborates with FSRA for Clearer Regulations

With ADGM leading the way in attracting companies seeking clarity in the regulations of fiat-backed tokens and tokenized financial services, this action will position the UAE as a leading regulator of digital assets. Circle has also hired Dr. Saeeda Jaffar as the Managing Director of the Middle East and Africa as part of its expansion.

Dr. Jaffar is a senior executive of Visa currently serving the GCC region. She will come to Circle to spearhead its strategy and develop regional relations. She will focus on increasing the use of USDC in the business payment and financial infrastructure within the UAE and beyond.

A clearer regulatory environment is a precondition of a more transparent and effective internet financial system. It is an honor to work in collaboration with FSRA in ADGM, said Circle co-founder and CEO Jeremy Allaire.

Also Read: BitMine Boosts Ethereum Holdings With $199 Million Buy as Market Turns Bearish

The new license will see Circle grow regulated usage of USDC in corporate payments, settlement rails, and developer infrastructure regionally. This comes after Dubai acknowledged USDC and EURC under the crypto token framework of the DFSA, which is instituting Circle as a regulatory entity in both of the major financial hubs of the UAE.

Tether USDT Approved for Regulated Operations on Multiple Blockchains

Stablecoins have seen major mainstream adoption following the signing of the GENIUS Act by President Donald Trump in July, establishing a federal system to issue and regulate these currencies. With the passage of the law, large financial institutions like Bank of America, Morgan Stanley, and Robinhood started new initiatives related to stablecoins.

Tether’s USDT stablecoin now holds a fiat-backed status and has received approval across various blockchains within ADGM. 

Tether announced that licensed participants of the ADGM financial free zone could now carry out regulated operations with USDT in blockchains such as Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON, and TRON. The approvals are based on prior USDT approvals on Ethereum, Solana, and Avalanche.

On Monday, Binance disclosed that it obtained complete permission to run its flagship Binance.com platform under the supervision of ADGM. This has been after years of regulatory scrutiny.

Binance will be managed using three separate legal entities in the zone: an exchange, a clearinghouse, and a broker-dealer, which follows a classic financial market layout of regulated trading, custody, settlement, and off-exchange capabilities.

Also Read: Bybit Teams with Circle to Expand USDC Access and Strengthen Crypto Markets