Circle has received in-principle regulatory approval from ADGM’s FSRA.
Takeaway Points
- Circle receives IPA.
- This IPA indicates an important step towards Circle enabling compliant innovation in digital finance throughout the Middle East and Africa.
- Circle announced a strategic collaboration with Hub71.
IPA from ADGM’s FSRA
Circle Internet Group, Inc., a global financial technology company and stablecoin market leader, announced on Tuesday that it has received In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of ADGM to operate as a money services provider.
This IPA indicates an important step towards Circle receiving a Financial Services Permission (FSP) under ADGM’s progressive regulatory framework, enabling compliant innovation in digital finance throughout the Middle East and Africa (MEA), based on the report.
Jeremy Allaire, Co-Founder, Chairman, and CEO of Circle, commented, “The UAE is paving the way for responsible innovators to build the internet financial system. This IPA from ADGM advances our strategy to establish deep roots in markets embracing the onchain economy, creating new pathways for investment and innovation in the region. It also underscores Circle’s enduring commitment to global stablecoin oversight—strengthening trust, compliance, and adoption worldwide, while laying a resilient foundation for the internet financial system.”
Arvind Ramamurthy, Chief of Market Development at ADGM, remarked, “We are excited about Circle’s contribution to ADGM’s dynamic ecosystem leveraging their regulatory-first approach, commitment to innovation, and global credibility in the stablecoin space. Their presence aligns with ADGM’s position as a hub for innovation, offering a robust regulatory environment for the growth of next-generation financial services. We look forward to working with Circle as they expand their operations and contribute to the advancement of digital finance in the UAE.”
Other Announcement
Circle announced a strategic collaboration with Hub71, Abu Dhabi’s global tech ecosystem, to increase innovation in the digital assets space.
According to the report, the two companies will explore initiatives around ADGM’s digital regulatory sandbox, offering founders access to grants, institutional networks, and opportunities to promote fintech innovation through hackathons, educational workshops, and mentorship programs.
Circle will join Hub71’s Digital Assets specialist ecosystem as part of the partnership to contribute its global expertise to a community of more than 500 tech startups and venture capital partners.
Ahmad Ali Alwan, CEO of Hub71, said, “Our collaboration with Circle underscores our commitment to positioning Abu Dhabi as a global hub for FinTech and digital assets. Circle’s expertise will enrich our digital assets ecosystem, providing Hub71 founders with greater access to resources, mentorship, and growth opportunities. Through this partnership, we are enabling the adoption of leading digital financial infrastructure that supports startup growth and drives the evolution of Web3 and digital finance from Abu Dhabi.”
About Circle Internet Group, Inc.
Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce, and financial applications worldwide. It is building the world’s largest, most-widely used, stablecoin network, and issues, through its regulated affiliates, USDC and EURC stablecoins.
Circle provides a comprehensive suite of financial and technology services that empower enterprises and developers to integrate stablecoins and blockchains into their products, services and business operations.
