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Abu Dhabi, UAE, December 9, 2025.
Circle Internet Group (NYSE: CRCL), the issuer of the world's second-largest stablecoin USDC, has been granted a full Financial Services Permission (FSP) by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).
The license authorizes Circle to operate as a regulated Money Services Provider, paving the way for expanded issuance, payments, settlements, and digital asset services involving USDC across the United Arab Emirates.
The announcement, made during Abu Dhabi Finance Week, follows Circle's in-principle approval in April 2025 and builds on the earlier recognition of USDC and EURC as the first stablecoins under Dubai's DIFC framework.
Key Takeaways
- Circle's full FSP license enables broader, regulated USDC operations, including payments and settlements for institutions and businesses in the UAE.
- The approval cements the UAE's emergence as a leading global hub for compliant stablecoins, rivaling centers like Singapore and the EU.
- Appointment of Dr. Saeeda Jaffar strengthens Circle's MEA strategy, focusing on partnerships and real-world adoption.
- Builds on prior UAE milestones, including in-principle approval and DIFC recognitions, while aligning with global regulatory wins like EU MiCA compliance.
- Enhances USDC's utility for cross-border payments, remittances, and treasury management amid growing Middle East digital finance momentum.
Details of the License and Announcement
The FSP allows Circle to provide money services under strict FSRA oversight, emphasizing transparency and risk controls. This enables institutional-grade use cases for USDC, which has a circulating supply exceeding $78 billion.
Alongside the license, Circle named Dr. Saeeda Jaffar, previously Visa's senior vice president and group country manager for the GCC, as Managing Director for MEA.
"Her deep regional expertise... will be invaluable as we expand our presence in the UAE and MEA," Allaire noted.
Arvind Ramamurthy, ADGM's Chief Market Development Officer, added: "Circle’s regulated presence in ADGM reinforces our ambition to build a trusted, institutional-grade digital asset ecosystem... cementing the UAE’s role as a leading hub for regulated digital finance."
Background on Circle's UAE Journey
Circle incorporated in ADGM in December 2024, received in-principle approval in April 2025, and saw USDC/EURC recognized in Dubai's DIFC earlier this year.
These steps reflect the UAE's progressive regulations for fiat-referenced tokens, attracting global players seeking clear compliance paths.
Broader Implications for Stablecoins and the Middle East
This milestone underscores the Middle East's rise as a regulated stablecoin powerhouse, with the UAE drawing firms like Circle and Binance through strict frameworks.
It promises faster cross-border payments, reduced costs for remittances, a key MEA need, and deeper DeFi integration, while prioritizing consumer protection amid global adoption growth.
Conclusion
Circle's full ADGM license marks a pivotal step in regulated digital finance, reinforcing USDC's leadership and the UAE's position at the forefront of innovation.
With strong leadership and regulatory backing, Circle is poised for accelerated growth in the region's digital economy.
Read Next:
- Stablecoins x Tokenized Finance in 2026: Here's What's Coming
- The Neobank Transition Report
- 2025 Stablecoin Spending Report
FAQs:
1. What license did Circle receive in Abu Dhabi?
Circle secured a full Financial Services Permission (FSP) from ADGM's FSRA to operate as a Money Services Provider, enabling regulated USDC issuance and services.
2. How does this impact USDC operations in the UAE?
It allows broader USDC issuance, payments, settlements, and digital asset services under full regulatory oversight, expanding use cases for businesses and institutions.
3. When was the Circle ADGM license announced?
The full license was announced on December 9, 2025, following in-principle approval in April 2025.
4. Why is the UAE becoming a hub for stablecoins like USDC?
Progressive regulations, clear frameworks for fiat-referenced tokens, and support for innovation make the UAE attractive for compliant digital assets, drawing global players like Circle.
5. Who is leading Circle's expansion in the Middle East?
Dr. Saeeda Jaffar, formerly of Visa, has been appointed Managing Director for Circle Middle East & Africa to drive partnerships and USDC adoption.
