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Circle Bets on UAE for Regulated Stablecoins With Strategic Leadership and ADGM Approval
Circle Internet Group, known for issuing the USD Coin (USDC) stablecoin, has taken a decisive step into the Middle East and North Africa (MENA) by securing a key license from Abu Dhabi Global Market (ADGM) and appointing a regional veteran to lead operations. This marks the company’s most direct push yet into a region positioning itself as a hub for regulated digital finance.
The license, issued by ADGM—the international financial center and free economic zone of Abu Dhabi—authorizes Circle to operate as a regulated Money Services Provider under the city’s financial oversight framework.
Top Regional Executive Joins Circle
Circle has tapped Dr. Saeeda Jaffar, formerly senior vice president and group country manager for Visa in the Gulf Cooperation Council, to head its UAE and MENA operations. A seasoned payments executive, Jaffar has also held roles at McKinsey, Bain, and Alvarez & Marsal, advising banks, sovereign funds, and governments across the Middle East, Africa, Europe, and the U.S.
Regulatory Clarity Drives Adoption
Over the past year, Circle has deepened its Gulf presence as regulators in Abu Dhabi and Dubai clarified rules for fiat-referenced tokens and payment infrastructure. CEO Jeremy Allaire emphasized that regulatory clarity is essential for a “more open and efficient internet financial system,” praising ADGM’s framework for setting high standards in transparency, risk management, and consumer protection.
The UAE has already granted similar approvals to Binance and Tether under the ADGM regime, while broader regional regulators have moved to formalize reporting standards for digital assets.
UAE as a Global Stablecoin Hub
Industry experts see Circle’s expansion as proof that the UAE has developed one of the most mature and forward-leaning regulatory frameworks for stablecoins. According to Charles d’Haussy, CEO of dYdX Foundation, the UAE is positioning itself as the global capital for regulated digital assets and stablecoins, offering clear rules for yield-bearing tokens, strong market infrastructure, and active government support.
With a combination of 24/7 blockchain rails, zero legal uncertainty, and a $30 billion annual inflow of on-chain volume, the UAE is emerging as a magnet for both retail and institutional participants in the regulated stablecoin market.
