Circle secures license in UAE for stablecoin payments
Circle Internet Group, Inc. (NYSE: CRCL), a global internet financial platform and issuer of USDC stablecoin, has secured a Financial Services Permission (FSP) license from the Financial Services Regulatory Authority of ADGM in UAE, to operate as a Money Services Provider in the International Financial Center. With the FSP license now in place, Circle is positioned to expand regulated payment and settlement use cases in the UAE for businesses, developers, and financial institutions.
As per the press release, it has also appointed Dr. Saeeda Jaffar as Managing Director for Circle Middle East & Africa (MEA). Dr. Jaffar, who will join from Visa, where she serves as Senior Vice President and Group Country Manager for the Gulf Cooperation Council (GCC), will lead Circle’s regional strategy, deepen partnerships with financial institutions and enterprises, and accelerate the adoption of trusted digital dollars and onchain payment solutions across the UAE and broader MEA markets.
Jeremy Allaire, Co-Founder, Chairman and CEO of Circle notes that the ADGM framework sets a high bar for transparency, risk management and consumer protection, which enable trusted stablecoins to power real-world payments and finance at internet scale. He explained, “I’m also delighted to welcome Dr. Saeeda Jaffar to Circle. Her deep regional expertise, strategic vision and reputation for building high-performing partnerships will be invaluable as we expand our presence in the UAE and MEA.”
“Circle’s regulatory-first approach aligns with ADGM’s commitment to responsible innovation. With clear rules for fiat-referenced tokens, the UAE is enabling the safe, scalable adoption of digital assets across the financial system. Circle’s regulated presence in ADGM reinforces our ambition to build a trusted, institutional-grade digital asset ecosystem in Abu Dhabi, one that enhances market confidence, supports real-world use cases, and cements the UAE’s role as a leading hub for regulated digital finance.” said Arvind Ramamurthy, Chief Market Development Officer, ADGM.
In April 2025, Circle had received preliminary approval for the license. This builds on Circle’s growing footprint in the UAE, including the Dubai International Financial Centre’s recognition of USDC and EURC as the first stablecoins under the DFSA’s crypto token regime earlier this year.
