Circle Abu Dhabi has recently achieved a significant milestone by obtaining regulatory approval to operate as a financial service provider within the Abu Dhabi International Financial Center. This advancement is a key component of the United Arab Emirates’ strategic focus on expanding its stablecoin and cryptocurrency capabilities.
On Tuesday, Circle Internet Group proudly announced its receipt of a Financial Services Permission license from the Financial Services Regulatory Authority of the Abu Dhabi Global Market (ADGM), the renowned International Financial Centre of Abu Dhabi. This development authorizes Circle to function as a Money Services Provider within the IFC, further cementing its presence in the region.
Circle Abu Dhabi: A Strategic Appointment
In conjunction with this regulatory approval, Circle has appointed Saeeda Jaffar as the managing director for Circle Middle East and Africa. Jaffar, who also serves as a senior vice president and group country manager for the Gulf Operation Council at Visa, will spearhead the strategic development and partnership endeavors for Circle in the region.
Jeremy Allaire, Circle’s co-founder, chairman, and CEO, emphasized that the regulatory framework in place sets a high standard for transparency, risk management, and consumer protection. He highlighted the importance of these standards in enabling “trusted stablecoins” to support large-scale payments and financial operations.
Regulatory Advances in Abu Dhabi
The ADGM has been proactive in granting licenses to a wave of cryptocurrency companies. Recently, Tether’s USDt, the largest stablecoin by circulation, achieved a regulatory milestone in Abu Dhabi’s international financial center. Ripple’s dollar-pegged stablecoin, Ripple USD, also received approval at the end of November.
Moreover, crypto exchange Binance was awarded three separate licenses by Abu Dhabi’s financial regulator, enabling it to operate its exchange, clearing house, and broker-dealer services. This follows Bybit’s regulatory approval in the UAE earlier in October.
UAE’s Commitment to Crypto Growth
The UAE Central Bank has been actively revising its cryptocurrency regulations, introducing new rules for decentralized finance (DeFi) and the broader Web3 industry in November. The Federal Decree Law No. 6 of 2025 now covers DeFi platforms and related services, requiring them to obtain licenses for operations involving payments, exchange, lending, custody, or investment.
Crypto lawyer Irina Heaver noted, “DeFi projects can no longer avoid regulation by claiming they are just code,” underscoring the UAE’s commitment to maintaining regulatory oversight.
Throughout 2024, the UAE solidified its position as a global crypto hub. In October 2024, cryptocurrency transfers and conversions were exempted from value-added tax, aligning with Dubai’s digital asset regulator’s stricter rules on crypto marketing. Additionally, Ras Al Khaimah Digital Assets Oasis was developing a legal framework for decentralized autonomous organizations.
Local regulators have also enforced compliance, with Dubai’s Virtual Assets Regulatory Authority taking action against seven unlicensed crypto businesses, issuing fines and cease-and-desist orders.
