Circle has received in-principle approval from the Financial Services Regulatory Authority of the Abu Dhabi Global Market, moving closer to launching regulated stablecoin services in the UAE. The approval will enable Circle to apply for a full Financial Services Permission license, allowing it to operate as a regulated money services provider. CEO Jeremy Allaire remarked that this development supports their global strategy for the onchain economy and emphasizes compliance and trust in the stablecoin sector. Additionally, Circle announced a partnership with Hub71, a tech ecosystem in Abu Dhabi, to collaborate on projects in the digital regulatory sandbox and join Hub71's digital assets group. Circle's USDC token is the second-largest stablecoin by market capitalization. The UAE is focusing on becoming a global Web3 hub, actively attracting digital asset firms through progressive regulation and strategic partnerships.

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