Circle secures in-principle approval from Abu Dhabi's FSRA, paving the way for regional expansion.

The USDC issuer partners with Hub71 to boost fintech innovation in the UAE. This move strengthens Circle's global stablecoin strategy amid rising regulatory clarity.

Circle, the issuer of USDC, has secured In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) for a money services provider license. The move will enable the company to expand its operations in the region and launch its flagship stablecoin, USDC.

This partnership marks a significant step in integrating responsible innovators, like Circle, into the fabric of Abu Dhabi Global Market, a leading emerging technology hub in the Middle East. The company will also partner with Hub71, a startup ecosystem in Abu Dhabi, to provide founders with access to programs such as ADGM’s digital regulatory sandbox, grants, institutional connections, and hackathons.

"We are thrilled to welcome Circle to Hub71's specialist ecosystem in Digital Assets. Circle's expertise will enrich our digital assets ecosystem, providing Hub71 founders with greater access to resources, mentorship, and growth opportunities. Through this partnership, we are enabling the adoption of leading digital financial infrastructure that supports startup growth and drives the evolution of Web3 and digital finance from Abu Dhabi," said Ahmad Ali Alwan, CEO of Hub71.

"We are pleased to welcome Circle to ADGM. We are committed to fostering an enabling ecosystem for responsible financial innovators to thrive in Abu Dhabi. Our advanced regulatory framework and efficient licensing processes are designed to attract leading global institutions like Circle, who are shaping the future of finance with their cutting-edge technologies and products. We wish Circle all the best in completing the licensing procedures and look forward to seeing them launch their services from ADGM and expand their footprint in the region," said H.E. Abdulla Bin Touq Al Touq, Minister of Economy, Chair of the Board of Directors of ADGM.

Circle is a leading innovator in the stablecoin and digital asset space, and its flagship product, USDC, is the second-largest stablecoin in the world, with a circulating supply of over $62 billion. The company is known for its commitment to compliance and best practices, and its products and services are used by some of the largest financial institutions and enterprises in the world.

"The UAE is paving the way for responsible innovators to build the internet financial system. We are grateful to the FSRA and ADGM for their efficient and forward-thinking approach to integrating best-in-class technologies into the global financial system. We are also excited to partner with Hub71 to support the next generation of fintech and web3 founders in Abu Dhabi," said Jeremy Allaire, Co-Founder, Chairman, and CEO of Circle.

Earlier this year, Circle launched a cross-border payments network to expand USDC utility. The company is also planning to launch USDC in Japan later this year following a partnership with SBI Holdings.

As the world’s second-largest stablecoin, USDC is now used by some of the largest financial institutions and enterprises in the world for cross-border payments, treasury management, and other critical use cases. USDC is a core component of the new internet financial system being built today, and it is a pivotal technology in the broader evolution of money and payments.

This partnership will facilitate the development of programs through ADGM’s digital regulatory sandbox, providing founders with access to grants, institutional connections, and mentorship from leading industry figures. Together, they will contribute to a shared goal: to foster the next phase of economic growth and technological innovation in the UAE.

Moreover, Circle will join Hub71’s Digital Assets specialist ecosystem, bringing its stablecoin expertise to a community of 500+ startups and VC partners, all focused on advancing Web3, digital assets, and the metaverse. This partnership is set to launch the next wave of groundbreaking startups in Abu Dhabi’s startup scene.

With a startup success rate of 80 percent, Hub71 provides a supportive environment for founders to thrive. Over the past six years, Hub71 has supported the launch of 350+ startups, raised $3 billion in VC funding, and created 3,500 jobs in the process.

This partnership marks a significant step in integrating responsible innovators into the fabric of Abu Dhabi Global Market, a leading emerging technology hub in the Middle East, known for its advanced regulatory framework and efficient licensing processes. It will also serve to attract leading global institutions who are shaping the future of finance with their cutting-edge technologies and products.

As the world's second-largest stablecoin, USDC is now used by some of the largest financial institutions and enterprises in the world for cross-border payments, treasury management, and other critical use cases. USDC is a core component of the new internet financial system being built today and is a pivotal technology in the broader evolution of money and payments.

Earlier this year, Circle launched a cross-border payments network to expand USDC utility and is planning to launch USDC in Japan later this year following a partnership with SBI Holdings.

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