Circle, the issuer of the USDC stablecoin, has received a Financial Services Permission license from Abu Dhabi Global Market, expanding the company’s ability to offer regulated payment and settlement services in the United Arab Emirates. The approval places Circle within one of the most active regulatory environments for digital assets as the UAE positions itself to attract global financial institutions. The license, granted by ADGM’s Financial Services Regulatory Authority, allows Circle to operate as a Money Services Provider within the financial free zone.
The authorization follows an in-principle approval issued earlier this year and builds on Circle’s recent regulatory momentum in the region. In Dubai, both USDC and Circle’s euro-backed EURC were recognized under the Dubai Financial Services Authority’s digital asset regime. The growing regulatory clarity across the country reflects the UAE’s broader ambition to become a hub for institutional-grade digital asset activity, drawing interest from payment providers, exchanges and global fintech firms.
Leadership Expansion and Institutional Context
Circle also announced the appointment of Dr. Saeeda Jaffar as managing director for the Middle East and Africa. Jaffar previously held senior roles at Visa, where she oversaw regional strategy and partnerships across the payments sector. Her addition signals Circle’s intent to deepen institutional engagement as USDC continues to expand in corporate treasury, settlement and cross-border payment use cases.
The approval comes as the competitive landscape for digital asset firms in the UAE intensifies. One day before Circle’s announcement, Binance received multiple licenses from ADGM for exchange, clearing and brokerage operations, highlighting the country’s growing role in attracting major global players. The UAE has emphasized a rules-based environment with defined supervisory frameworks, a strategy that contrasts with fragmented regulatory approaches in other jurisdictions.
Stablecoins Gain Traction in Global Financial Infrastructure
Stablecoins such as USDC are increasingly integrated into payments and trading infrastructure as global adoption accelerates. The asset class, valued at roughly $300 billion, is drawing attention from financial institutions seeking efficient cross-border settlement mechanisms. In emerging markets, stablecoins have gained traction as alternatives to costly or inconsistent banking rails, allowing businesses and consumers to move funds across borders with lower friction.
For Circle, the ADGM license provides a pathway to strengthen institutional partnerships in the Gulf region and expand USDC’s use in regulated financial transactions. The company’s strategy aligns with growing interest from regional banks, payment firms and fintech platforms exploring tokenized settlement and digital asset liquidity. As the UAE continues to formalize its regulatory architecture, firms operating under clearly defined licenses are expected to gain a competitive advantage in serving enterprise and financial sector clients.
The region’s progress is being closely watched by global policymakers evaluating stablecoin oversight and digital asset market structure. With Abu Dhabi and Dubai advancing comprehensive frameworks, the UAE is positioning itself as a jurisdiction capable of supporting both innovation and institutional standards. Circle’s entry into ADGM reflects this shift and underscores the increasing institutionalization of the stablecoin sector.
