What you need to know, if you care about money and crypto:
- Circle, in case you didnât know, just got a thumbs up from Abu Dhabiâs Financial Services Regulatory Authority. Yes, thatâs rightâAbu Dhabi! It’s like the VIP pass to expand in the Middle East.
- Stablecoins are slowly but surely becoming the next big thing. Traditional payments? Pfft, thatâs so 2010s.
- By the way, USDC just hit a whopping $62 billionâno big deal. Circle is just taking over the payments world one stablecoin at a time, and guess what? They’re in a “quiet period” after filing for an IPO in the U.S. How mysterious…
Circle, that mighty issuer of the second-largest stablecoin (USDC, for those living under a rock), has been given the green light by Abu Dhabi. It’s like they’ve passed some mystical test to conquer the Middle East. Well, sort of.
The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) just handed Circle the âin-principalâ approval to play the money services game. All they need now is the full license to start printing the USDCâalmost as good as a full ticket to ride the Middle Eastern crypto rollercoaster. The paperwork was done last December, so Circleâs been *patiently* waiting for this moment.
Jeremy Allaire, Circleâs CEO (who probably has an endless supply of business jargon), said this approval “advances our strategy to establish deep roots in markets embracing the onchain economy, creating new pathways for investment and innovation in the region.” Translation: Weâre expanding, get used to it. đ
Oh, and it doesnât stop there. Circle also teamed up with Hub71, Abu Dhabiâs tech ecosystem. Yes, that’s rightâgrants, digital regulatory sandboxes, and institutional access. So, basically, the crypto kids are getting all the toys. đ
But waitâCircleâs being all mysterious, refusing to spill the beans on future plans because theyâre in the dreaded “quiet period.” Which, by the way, is *probably* a strategy to make us all more curious. đ
As regulations around stablecoins become more *official* worldwide, Circle is working its way through the global red tape. It proudly boasts about being the first large stablecoin issuer to comply with the European Union’s MiCA regulations. Oh, and last month, USDC launched in Japan. Yup, that happened too. đ
Last week, in case you missed it, Circle introduced a cross-border payments network, because why not? Itâs all about boosting stablecoin usage. Because, honestly, who wouldnât want to be part of the coolest financial revolution?
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2025-04-29 12:31