Circle has strengthened its presence in the Middle East after receiving a key license from Abu Dhabi Global Market’s Financial Services Regulatory Authority. The approval allows the company to operate as a money services provider and marks a significant step in its plan to expand payment and settlement services across the United Arab Emirates.
Team Circle
The company, known for issuing the USDC stablecoin, said it plans to roll out regulated services for businesses, developers, and financial institutions in the region. Co-founder and CEO Jeremy Allaire said ADGM’s regulatory structure offers strong standards for transparency, risk control, and consumer protection. In his view, a clear regulatory foundation is essential for stablecoins to support real-world payments at scale.
ADGM serves as an international financial center within Abu Dhabi and operates under its own legal and regulatory system. Its financial watchdog, the FSRA, oversees licensing for firms that want to offer digital asset services in the zone.
As part of its expansion, Circle appointed Saeeda Jaffar as managing director for the Middle East and Africa. Jaffar previously held senior leadership roles at Visa, including serving as group country manager for the Gulf Cooperation Council. She is expected to guide Circle’s strategy and lead partnerships aimed at broadening the use of dollar stablecoins and onchain payment tools across the UAE and the wider region.
Circle’s stock closed at $83.96 on Monday, down nearly 2% for the day and 22% lower over the past six months.
The company’s announcement comes during a busy week for digital asset regulation in Abu Dhabi. Tether received approval for USDT as a recognized fiat-referenced token within ADGM, giving licensed firms the green light to use the stablecoin across multiple networks, including Aptos, Cosmos, TON, and TRON.
Binance also revealed that it has secured full authorization to operate its main platform, Binance.com, within the ADGM framework. The exchange plans to launch its licensed exchange, clearing house, and broker-dealer services on January 5, 2026.
