A global financial technology firm and the issuer of USDC stablecoin, Circle Internet Group, Inc., has today received In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Mar

Global financial technology firm and issuer of USDC stablecoin, Circle Internet Group, Inc., has today received In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to be a money services provider.

The approval brings Circle closer to obtaining a full Financial Services Permission (FSP) in the ADGM’s regulatory framework, which is required to carry out any financial activity in the jurisdiction.

Circle’s integration into ADGM was announced in December 2024, following which IPA is part of a broader strategic initiative by Circle to expand its presence in the Middle East and Africa (MEA) region.

The regulatory development also follows Circle’s statements about supporting the global adoption of stablecoins and fostering compliant innovation in the digital finance ecosystem. The company is now granted in-principle approval to begin setting up operations in the ADGM while working towards meeting the final licensing requirements.

Furthermore, Circle has entered into a strategic partnership with Hub71, Abu Dhabi’s global tech ecosystem, to leverage Circle’s expertise and Hub71’s network of startups and venture capital to drive innovation within the digital assets and fintech industries.

Through this partnership, Circle will participate in ADGM’s digital regulatory sandbox, hackathons, educational workshops, and mentorship programs to develop financial technology solutions that comply with local and international regulations.

Moreover, startup grant access from Hub71 will be crucial in facilitating the growth of fintech startups in the UAE by providing them with greater access to digital financial infrastructure and expertise, as highlighted by Hub71’s leadership.

The integration of Circle into the Hub71 ecosystem will enable connections with more than 500 startups and a diverse range of institutional partners across the region’s financial and technological sectors.

Circle’s engagement in the Middle East follows similar activities in other jurisdictions. In 2022, the company received in-principle approval from the Monetary Authority of Singapore before securing its full license in that market. It has also begun operations in Japan and engaged in European partnerships, such as complying with the European Union’s Markets in Crypto-Assets (MiCA) rule.

Focusing on real-world utility, Circle’s stablecoin has seen over $62bn in circulation. Recent efforts include building infrastructure for cross-border payments and integrating stablecoins into traditional finance workflows.

By establishing a presence in Abu Dhabi, Circle aims to support the region’s ambition for digital finance and contribute to the global conversation around stablecoins and digital assets. ADGM’s regulatory clarity, with its emphasis on innovation, has made it an attractive hub for international fintech firms to operate within a regulated environment.