Circle, the firm behind the $78 billion stablecoin, said on Tuesday it has secured a Financial Services Permission (FSP) license from Abu Dhabi Global Market (ADGM), giving the company a formal foothold into the United Arab Emirates’ regulated crypto ecosystem.
The license, issued by ADGM’s Financial Services Regulatory Authority (FSRA), allows Circle to operate as a Money Services Provider inside the financial free zone, following the preliminary approval in April.
The license opens the door for the company to offer its USDC stablecoin in business payments, settlements and other financial use cases across the UAE.
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