Algorithmic Ratings & Investment Analysis
©ARIA 2025
by aria-crypto.com
April 29, 2025 at 10:13
UAE Grants Circle Approval to Expand USDC Operations in the Middle East
Circle, the issuer of the USDC stablecoin, has received in-principle approval from the Financial Services Regulatory Authority in Abu Dhabi.
This regulatory thumbs-up allows Circle to operate as a money services provider in the UAE, establishing a foothold in the rapidly evolving Middle East market.
With a current market supply of $62 billion, USDC continues to see robust growth, marking an increase of over 40% in 2025 alone.
Circle's CEO, Jeremy Allaire, articulated a commitment to fostering an onchain economy in this burgeoning region, underscoring the UAE's supportive regulatory environment.
In conjunction with its regulatory approval, Circle is partnering with Hub71 to support local tech startups through various initiatives and grants.
This collaboration aims to enhance the digital financial ecosystem and fuel innovation in the region.
Furthermore, Circle has been proactive in meeting compliance standards globally, previously launching USDC in Japan and being the first stablecoin issuer to align with the EU's MiCA regulations.
The stablecoin ecosystem is expanding rapidly, now valued at approximately $230 billion, signaling its transition from niche tools for traders to viable alternatives for everyday transactions.
Circle's strategic expansion in the UAE highlights its confidence in the synergy between innovation and regulation in the Middle East.
Stakeholders in the crypto market should observe these developments closely, as regulatory approvals like this can significantly enhance market opportunities for stablecoins.
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