Circle, the issuer of the second-largest stablecoin, USDC, said it received in-principal regulatory approval from Abu Dhabi, paving the way for an expansion across the Middle East.The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) granted the company the preliminary green light to operate as a money services provider, edging closer to a full license after incorporating in the financial hub last December.The approval "advances our strategy to establish deep roots in markets embracing the onchain economy, creating new pathways for investment and innovation in the region," Circle CEO Jeremy Allaire said in a statement on Tuesday.The company also announced a partnership with Hub71, Abu Dhabi's tech ecosystem, which includes initiatives in ADGM’s digital regulatory sandbox, grants to startup founders and offers access to institutional networks
source: https://www.coindesk.com/business/2025/04/29/circle-wins-regulatory-nod-from-abu-dhabi-watchdog-as-usdc-hits-usd62b