Circle Internet Group, Inc., a leading fintech firm and stablecoin provider, received In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) in April 2025.
This green light allows Circle to operate as a money services provider and moves it closer to a full Financial Services Permission under ADGM’s forward-looking rules.
The approval comes after Circle’s incorporation in ADGM in December 2024 and supports its effort to bring compliant digital finance to the Middle East and Africa.
Circle’s Vision for the On-Chain Economy
Jeremy Allaire, Co-Founder and CEO of Circle, said the UAE leads in enabling responsible innovators to build the internet financial system. He noted that the IPA aligns with Circle’s plan to root itself in markets that welcome on-chain finance.
Allaire added that this step reinforces Circle’s focus on stablecoin oversight, aiming to boost trust, compliance, and global adoption while creating a solid base for digital finance.
ADGM’s Regulatory Landscape
Arvind Ramamurthy, Chief of Market Development at ADGM, welcomed Circle’s entry into the market. He praised Circle’s regulatory-first mindset and its global standing in the stablecoin industry.
Ramamurthy said Circle’s presence strengthens ADGM’s reputation as an innovation hub, offering a stable framework for emerging financial services. He looks forward to working with Circle as it scales up in the UAE.
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Global Policy and Innovation
Dante Disparte, Circle’s Chief Strategy Officer, described the IPA as a sign that clear rules and innovation can thrive together. He argued that proactive jurisdictions like the UAE prove regulation fuels, rather than hinders, progress in digital finance.
Disparte stressed that Circle’s compliant infrastructure and transparency will help stablecoins gain wider acceptance around the world.
Collaboration with Hub71
Circle also announced a partnership with Hub71, Abu Dhabi’s tech ecosystem. The collaboration will tap into ADGM’s digital sandbox to support blockchain startups through grants, networking events, hackathons, and mentoring.
Circle will join Hub71’s Digital Assets community, which includes over 500 startups and venture investors. Hub71’s CEO, Ahmad Ali Alwan, said this alliance will boost Abu Dhabi’s role in fintech and Web3 by giving founders access to new tools and expertise.
Wider Fintech Momentum in Abu Dhabi
Abu Dhabi’s push into digital finance extends beyond Circle. The sovereign wealth fund ADQ backed a $5 million raise for GRVT, a hybrid crypto exchange built on ZKsync. Further Ventures led the round, signalling strong local support for crypto ventures.
Last year, the Aptos Foundation, a global blockchain organisation, opened an office in ADGM, underlining the emirate’s appeal to leading digital firms.
Circle is set to deepen its role in ADGM’s digital finance landscape, with its IPA in hand and new partnerships underway. The company’s progress highlights how clear rules, strategic alliances, and supportive regulators can work together to advance compliant innovation.
As Abu Dhabi strengthens its fintech ecosystem, Circle’s growth in the region may pave the way for broader adoption of stablecoins and on-chain services across the Middle East and Africa.
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