Circle Internet Group, Inc., a global financial technology company and stablecoin market leader, said it received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of ADGM to operate as a money services provider.
This milestone follows the company’s incorporation in ADGM in December 2024 and builds on its expanding presence across the UAE, the company said.
“The UAE is paving the way for responsible innovators to build the internet financial system,” said Jeremy Allaire, Co-Founder, Chairman, and CEO of Circle.
“This IPA from ADGM advances our strategy to establish deep roots in markets embracing the on-chain economy, creating new pathways for investment and innovation in the region,” he said.
Allaire said the approval also underscores Circle’s enduring commitment to global stablecoin oversight – strengthening trust, compliance, and adoption worldwide, while laying a resilient foundation for the internet financial system.
Arvind Ramamurthy, Chief of Market Development at ADGM, said Circle’s presence aligns with the regulatory authority’s position as a hub for innovation, offering a robust regulatory environment for the growth of next-generation financial services.
“We are excited about Circle’s contribution to ADGM’s dynamic ecosystem leveraging their regulatory-first approach, commitment to innovation, and global credibility in the stablecoin space,” he said.
The company also announced a strategic collaboration with Hub71, Abu Dhabi’s global tech ecosystem, to strengthen innovation within the digital assets space.
Circle and Hub71 will explore initiatives around ADGM’s digital regulatory sandbox, offering founders access to grants, institutional networks, and opportunities to accelerate fintech innovation through hackathons, educational workshops, and mentorship programmes.
As part of the collaboration, Circle will join Hub71’s digital assets specialist ecosystem, contributing its global expertise to a community of more than 500 tech startups and venture capital partners.
“Our collaboration with Circle underscores our commitment to positioning Abu Dhabi as a global hub for FinTech and digital assets,” said Ahmad Ali Alwan, CEO of Hub71.
“Circle’s expertise will enrich our digital assets ecosystem, providing Hub71 founders with greater access to resources, mentorship, and growth opportunities,” he said, adding that the partnership will enable adoption of leading digital financial infrastructure that supports startup growth and drives the evolution of Web3 and digital finance from Abu Dhabi.
Follow us on
