Circle Internet Group Secures ADGM License to Expand Regulated Digital Payments in UAE and MENA
Circle Internet Group has secured a license from the Abu Dhabi Global Market (ADGM) to operate as a regulated Money Services Provider in Abu Dhabi. This license enables Circle to offer regulated digital payment services across the UAE and the broader Middle East and North Africa (MENA) region.
The license was issued by the ADGM's Financial Services Regulatory Authority (FSRA) under Abu Dhabi’s regulatory framework designed to promote transparency, risk management, and consumer protection in relation to stablecoins and payment services.
In a strategic move to lead its Middle East and North Africa operations, Circle has appointed Dr. Saeeda Jaffar, formerly Visa's Senior Vice President and GCC Country Manager. Dr. Jaffar brings significant experience from her past roles at Visa, McKinsey, Bain, and Alvarez & Marsal.
Notably, Binance received ADGM approval earlier in the same week, positioning Circle among a select group of major global crypto firms authorized to operate under FSRA’s regulatory standards.
The UAE is actively formalizing digital asset regulations, including a September agreement on crypto tax reporting and ongoing industry consultations to establish clear reporting rules.
Analysts interpret the granting of Circle’s ADGM license as a strong indicator that the UAE is developing into a mature global hub for regulated digital assets and stablecoins, further solidifying its status as a leading international center for regulated digital asset activity.
