- Circle receives Financial Services Permission (FSP) from the Abu Dhabi Global Market (ADGM), authorizing it to operate as a regulated Money Services Provider.
- Appoints Dr. Saeeda Jaffar, formerly Senior Vice President at Visa, as Managing Director for the Middle East and Africa to lead the expansion.
- Bybit enters strategic partnership with Circle to deepen USDC liquidity and integrate with Circle’s institutional Arc network.
Circle Internet Group has received approval to operate as a money services provider in Abu Dhabi Global Market, giving the company a formal foothold in one of the region’s fastest-growing digital finance hubs.
The licence comes as the United Arab Emirates continues to tighten rules around stablecoins and other digital tokens.
With this approval, Circle can expand payment and settlement products for banks, businesses and developers in the UAE. Earlier this year, Dubai’s financial regulator recognised Circle’s USDC and EURC stablecoins under its crypto token framework.
Related: Abu Dhabi Regulator Approves USDT on Nine Blockchains as Tether Expands Into Robotics
Circle’s Leadership Strategy: Visa Executive to Lead MEA Push
Circle has also appointed Saeeda Jaffar as its managing director for the Middle East and Africa. She is expected to join from Visa, where she oversees the Gulf region. Jaffar will lead Circle’s expansion plans, build partnerships with local banks and guide efforts to bring more on-chain payment tools into everyday financial use.
Circle chief executive Jeremy Allaire said the UAE’s clear rulebook for digital assets makes it easier for companies to build long-term services. Officials at ADGM said the addition of Circle supports their goal of attracting well-regulated financial technology firms to Abu Dhabi.
Bybit and Circle Also Team Up
In related news, crypto exchange Bybit said it has partnered with an affiliate of Circle to expand access to USDC across its trading ecosystem. The two companies plan to increase liquidity for the stablecoin across spot and derivatives markets and add more USDC-based features for Bybit users.
Bybit will also work with Circle to improve fiat on- and off-ramp services, aiming to make deposits and withdrawals faster and clearer for customers. Bybit has also joined the public testnet of Circle’s Arc network, a blockchain launched last year and built for stablecoin-native financial applications.
The UAE Advantage: A Regulated Safe Harbor for Digital Assets
Bybit recently secured a full Virtual Asset Platform Operator licence from the UAE’s Securities and Commodities Authority, becoming the first global exchange to earn this level of approval.
The UAE is moving quickly to build a regulated digital asset environment, hoping to set itself apart as a safe and supervised base for global crypto firms.
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