On December 9, Circle Internet Group received approval from the Financial Services Regulatory Authority (FSRA) at Abu Dhabi Global Market to operate as a licensed Money Services Provider in the Abu Dhabi International Financial Centre.
This license provides Circle with the regulatory foundation to expand its operations across the UAE within a formal framework. The development comes as regulators in the UAE continue to strengthen rules for digital assets and stablecoins.
Along with the license, Circle named Dr. Saeeda Jaffar as Managing Director for its Middle East & Africa operations. Dr. Jaffar previously worked at Visa and held senior leadership roles across the Gulf region.
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She will lead the company’s regional plans to build connections with financial institutions and other businesses, and help deliver on-chain digital dollar solutions across the UAE and beyond.
The CEO of Circle, Jeremy Allaire, highlighted the regulator’s standards for transparency, risk management, and client protection. He noted these features are essential for making stablecoins trustworthy tools for payments and finance at scale.
This license builds on earlier recognition in the UAE of stablecoins such as USDC
It also follows prior approvals for competitors such as Tether’s USDT
Recently, Binance’s global platform, Binance.com, also received FSRA approval to operate under a regulated framework through licensed entities. What did the FSRA say? Read the full story.
