- Circle expands into UAE with financial services license from ADGM.
- Saeeda Jaffar joins Circle to lead Middle Eastern expansion strategy.
- Tether and Binance secure key regulatory approvals in Abu Dhabi.
Circle, the issuer behind the USDC stablecoin, has made a significant leap in its Middle Eastern expansion by securing a financial services license from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM).
This license allows Circle to operate as a money services provider within the UAE, paving the way for the company to offer regulated payment and settlement services to businesses, developers, and financial institutions in the region.
Jeremy Allaire, Circle’s co-founder and CEO, highlighted that the ADGM framework emphasizes transparency, risk management, and consumer protection. He noted that these high standards are key to enabling stablecoins like USDC to facilitate global payments and finance at scale. This development aligns with Circle’s ongoing strategy to foster a more open and efficient internet financial system.
The FSRA, as the primary regulatory body within ADGM, oversees the financial sector in the UAE capital’s special economic zone, which operates under a separate legal and regulatory framework. Circle’s new license will enable it to expand its services, offering innovative financial solutions based on its blockchain and stablecoin technology.
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Circle’s Middle Eastern Strategy and Leadership Appointment
Circle’s regional strategy has been further strengthened with the appointment of Saeeda Jaffar as the managing director for the Middle East and Africa. Jaffar, who joins Circle from Visa, brings extensive experience in the region. She previously held the position of senior vice president and group country manager for the Gulf Cooperation Council at Visa.
With Jaffar at the helm, Circle aims to drive the adoption of USDC and blockchain-based payment infrastructure across the UAE and the broader Middle East and Africa (MEA) region. Her leadership will be crucial as Circle seeks to establish institutional partnerships and expand its footprint in one of the world’s most rapidly growing markets for digital finance.
This development follows other major moves in Abu Dhabi’s crypto sector, where Tether and Binance also secured regulatory approvals to expand operations. Tether’s recognition as a fiat-referenced token within ADGM has opened the door for licensed firms to engage in regulated activities involving USDT across multiple networks.
Meanwhile, Binance has received full authorization to operate its global platform in the UAE capital under ADGM’s regulatory framework, which will go live in 2026.
Circle’s expansion into the Middle East marks a new chapter in its growth, further solidifying its position as a leader in the global stablecoin and blockchain-based payment sectors.
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