Circle Obtained a Financial Services License in the UK

Circle Begins Offering Financial Services in the UAE

Circle Internet Group (CRCL) has made a significant development by obtaining a Financial Services Permission (FSP) from the Abu Dhabi Global Market (ADGM), granting them the authority to offer financial services in the United Arab Emirates. This license allows Circle to develop payment and settlement systems that comply with regional regulations.

New Use Cases and Goals

As part of an impressive growth strategy, Circle plans to create new use cases in the UAE for businesses, developers, and financial institutions. These developments will strengthen Circle's position as a significant entity in the international financial center.

Stablecoin Approvals and Strategic Appointment

Particularly in recent months, Circle's stablecoins, USDC and EURC, have become among the first stablecoins approved by the Dubai International Financial Centre under DFSA's cryptocurrency token regulations. This approval further solidifies Circle's position in the UAE market.

The company appointed Saeeda Jaffar as General Manager for the Middle East & Africa to manage its regional strategy. Jaffar, who joined Circle from Visa, had also held senior management positions at the Gulf Cooperation Council.

This license obtained by Circle has the potential to enhance the company's profitability while also contributing to the development of the digital financial ecosystem in the region.