Circle’s USDC Expands to Middle East with Abu Dhabi Regulatory Approval as Market Cap Hits $62B
Circle, the issuer of the USDC stablecoin, has received in-principle regulatory approval from Abu Dhabi’s Financial Services Regulatory Authority (FSRA). This approval allows Circle to expand its operations in the Middle East after incorporating in Abu Dhabi Global market last December.
CEO Jeremy Allaire highlighted the strategic importance of entering markets that embrace blockchain-based finance. The approval comes as USDC’s market capitalization reaches $62 billion, solidifying its position as the second-largest stablecoin.
Circle also announced a partnership with Hub71, Abu Dhabi’s tech ecosystem, including participation in regulatory sandbox programs. This move underscores the growing institutional acceptance of stablecoins in regulated financial hubs.
