Circle Internet Group, Inc., a global financial technology company and stablecoin market leader, has announced that it has received In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). This approval permits Circle to operate as a money services provider, marking a significant step toward obtaining a Financial Services Permission (FSP) under ADGM’s forward-thinking regulatory framework.

This milestone reinforces Circle’s commitment to fostering compliant innovation in digital finance across the Middle East and Africa (MEA). It follows Circle’s incorporation in ADGM in December 2024 and highlights the company’s expanding presence within the UAE.

As reported by TechAfrica News, Jeremy Allaire, Co-Founder, Chairman, and CEO of Circle, stated, “The UAE is paving the way for responsible innovators to build the internet financial system.” He emphasized that the IPA from ADGM advances Circle’s strategy to establish a strong foundation in markets that embrace the on-chain economy, paving the way for new investment opportunities and innovation in the region.

In addition to the IPA, Circle has formed a strategic partnership with Hub71, Abu Dhabi’s global tech ecosystem, aimed at enhancing innovation within the digital assets sector. Together, Circle and Hub71 will explore initiatives related to ADGM’s digital regulatory sandbox, providing founders access to grants, institutional networks, and opportunities to accelerate fintech innovation through hackathons, educational workshops, and mentorship programs.

Ahmad Ali Alwan, CEO of Hub71, expressed enthusiasm for the collaboration, noting, “Our collaboration with Circle underscores our commitment to positioning Abu Dhabi as a global hub for FinTech and digital assets.” He added that Circle’s expertise will enhance the digital assets ecosystem, offering Hub71 founders increased access to valuable resources and growth opportunities.

Dante Disparte, Chief Strategy Officer & Head of Global Policy and Operations at Circle, remarked that the IPA from ADGM signals that regulatory clarity and innovation can coexist. He believes that jurisdictions like the UAE are setting clear pathways for digital finance, demonstrating how trusted infrastructure based on compliance and transparency can promote the safe adoption of stablecoins globally.