Circle is initially approved by Abu Dhabi to operate as a monetary service provider

PANews reported on April 29 that according to The Block, stablecoin issuer Circle has received preliminary approval from the Financial Services Regulatory Bureau of Abu Dhabi Global Markets (ADGM) and can operate as a monetary service provider. Previously, Circle established a new legal entity in ADGM in December 2024 to expand the Middle East and Africa markets. This initial approval means that Circle has met the requirements for conducting financial business at ADGM and is still to be finalized. Circle plans to further make arrangements in the region and has submitted an IPO application to the US Securities and Exchange Commission earlier this month.