USDC stablecoin issuer Circle has received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), the company announced on April 29.
The approval moves Circle closer to obtaining a full Financial Services Permission (FSP) license, allowing it to operate as a regulated money services provider in the United Arab Emirates, the firm said in an official press release.
Jeremy Allaire, Circle’s Co-Founder and CEO, said the approval “advances our strategy to establish deep roots in markets embracing the onchain economy.” He added:
“It also underscores Circle’s enduring commitment to global stablecoin oversight—strengthening trust, compliance, and adoption worldwide, while laying a resilient foundation for the internet financial system.”
Comments from Circle CEO and Chief of Market Development at ADGM regarding the regulatory nod. Source: PR
Related: Circle files for Initial Public Offering planned for April
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