- Circle has secured in-principle approval from Abu Dhabi’s FSRA to operate as a money services provider.
- This milestone moves Circle closer to full regulatory approval, reinforcing stablecoin oversight in the Middle East and Africa.
- The approval allows Circle to facilitate regulated USDC transactions, including cross-border payments and institutional settlements.
Circle, the issuer of the USDC stablecoin, has secured in-principle approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi to operate as a money services provider in the region. This move is seen as a major step forward, particularly for a region that was initially restrained from crypto-innovative solutions in the past.
This milestone marks a key step toward obtaining a Financial Services Permission (FSP), reinforcing Circle’s commitment to advancing stablecoin oversight, trust, and compliance across the Middle East and Africa (MEA).
In Abu Dhabi, obtaining approval as a money services provider (MSP) allows Circle to legally operate within the Abu Dhabi Global Market (ADGM) financial framework. With this designation, Circle can now facilitate regulated digital asset transactions using USDC, including cross-border payments and institutional settlements, something it previously couldn’t do without local regulatory approval.
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