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Circle’s Epic Middle East Adventure: Stablecoins and the UAE’s Crypto Gold Rush

BBG News

In a move that could change everything, Circle has just secured a major victory in the heart of the Middle East. With a green light from Abu Dhabi, the company is on track to revolutionize the stablecoin scene in a region that’s faster at adopting crypto than your grandma’s Wi-Fi.

Circle, the brainchild behind the famous USDC (yep, the world’s second-largest stablecoin, no big deal), has received the In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM).

Let’s break it down in plain English: Circle has been given a green light to operate as a money services provider in the UAE, and that’s one giant leap towards full licensing. Looks like they’re about to set up shop in a place that’s moving faster than most of the world combined. 🌍

Now they’ve got their foot in the door of the UAE, a place that’s practically a magnet for crypto and fintech innovators. You know why? Because Abu Dhabi isn’t just playing catch-up — it’s leading the way with clear regulations, a futuristic approach, and an appetite for all things Web3 infrastructure like you’ve never seen before. If this is the future of finance, well, the future is already here!

“The UAE is paving the way for responsible innovators to build the internet financial system,” said Jeremy Allaire, Co-Founder, Chairman, and CEO of Circle.

The UAE isn’t just a place to work; it’s the kind of environment where growth is encouraged, not throttled. And Circle knows exactly what it’s doing with this strategic expansion. Good timing? You bet. Not long ago, Circle unveiled a cross-border payments network, expanding USDC’s utility, which now stands at a circulating supply of $62 billion, up by more than 40% in 2025. Oh, and they also filed for a U.S. IPO this month. Timing is everything, right?

Circle’s New Best Friend: Hub71

It’s not just about being a big fish in a small pond. Circle’s playing the long game and has teamed up with Hub71 to ensure it plants even deeper roots in Abu Dhabi. The goal? Build bridges — or in this case, very stablecoin-powered bridges — that connect them to the local ecosystem.

Circle and Hub71 are partnering up to create programs through ADGM’s digital regulatory sandbox, where they’ll offer grants, hackathons, and mentorship to founders. Plus, Circle will be joining Hub71’s Digital Assets ecosystem, bringing its expertise to a community of 500+ startups and VC partners. That’s one heck of a crowd to mingle with!

“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.

The Global Crypto Revolution: Circle Is Ready for It

Circle is no stranger to making waves on the global stage. It was the first major stablecoin issuer to get on board with the EU’s MiCA regulations (because why not?), and just last month, they launched USDC in Japan with a little help from SBI Holdings.

regulation and innovation can coexist and thrive. And with the Middle East poised to lead the stablecoin revolution, it’s safe to say that the future is looking *very* stable for Circle.

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2025-04-29 13:08

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