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Circle Receives Abu Dhabi Money Services License

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Circle Receives Abu Dhabi Money Services License

Circle Internet Group has received authorization to operate as a money services provider in Abu Dhabi Global Market (ADGM), adding to regulatory approvals the stablecoin issuer has secured across multiple jurisdictions this year.

The Financial Services Regulatory Authority of ADGM granted Circle a Financial Services Permission license, the company announced Tuesday in a statement. The approval allows Circle to provide regulated payment and settlement services for businesses, developers and financial institutions operating in the international financial center.

Circle also named Saeeda Jaffar as managing director for Middle East and Africa operations. Jaffar currently serves as aenior vice president and group country manager for the Gulf Cooperation Council at Visa, where she oversees regional strategy and partnerships.

The ADGM license represents Circle's second regulatory approval in the UAE. Earlier this year, the Dubai International Financial Centre recognized USDC and EURC as the first stablecoins under the DFSA's crypto token regime.

Arvind Ramamurthy, chief market development Officer at ADGM, said the authorization supports the development of an institutional-grade digital asset ecosystem in Abu Dhabi. Circle CEO Jeremy Allaire described the FSRA framework as establishing standards for transparency and risk management in digital dollar infrastructure.

The announcement follows Circle's transition to a public company trading on the New York Stock Exchange earlier this year. Circle has expanded its regulatory footprint across multiple markets as governments develop frameworks for stablecoin issuers and digital asset service providers.

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