USDC issuer Circle has been greenlit to operate as a money services provider in Abu Dhabi. The licensing stands as a major step in making the UAE one of the most crypto-supportive jurisdictions worldwide. The UAE continues to establish itself as a region that invites visionary operators to develop the internet financial system, according to Jeremy Allaire, who leads Circle as its founder and CEO.
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Another Step In Circle’s Incredible Journey
Arvind Ramamurthy, the Chief of Market Development at ADGM, expressed his excitement about Circle’s role as a market contributor to ADGM’s evolving financial ecosystem through their regulatory-focused approach and their dedication to innovation alongside their stablecoin industry leadership worldwide.
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Circle has also established a strategic partnership with Hub71. Hub71 operates as Abu Dhabi’s premier international technology sector. The collaborative initiative works to enhance digital asset technology innovation across all levels. The initiative aims to provide tech innovators necessary access to funding resources, together with professional networks that enable faster development of financial technology solutions. The USDC issuer will integrate with the Digital Assets Specialist ecosystem of Hub71. The company is ready to provide its international experience to more than 500 tech startups and venture capital partners.
Hub71 CEO Ahmad Ali Alwan expressed that their collaboration with Circle demonstrates their dedication to making Abu Dhabi an international base for FinTech and digital assets. Circle’s expert capabilities will boost the digital assets platform, which will deliver increased access to multiple resources, together with mentorship opportunities for founders of Hub71.
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The money services provider approval granted to Circle in Abu Dhabi reflects rising regional interest in the emerging crypto investment class. Circle stands as one of the leading companies in the stablecoin domain. The money services provider approval is another milestone in the firm’s long journey.