Circle, the giant behind the Stablecoin USDC continues its expansion. Thus, the company recently confirmed its desire for the IPO. From now on, it is a geographic expansion that Circle will lead to the Middle East.
- Circle obtained a regulatory approval in Abu Dhabi, marking the start of its geographic expansion in the Middle East.
- A strategic partnership was established with HUB71 in Abu Dhabi to promote the adoption of cryptocurrencies to the United Arab Emirates.
Circle receives regulatory approval in Abu Dhabi
Tuesday April 29, the company Circle has announcement to have obtained an approval in principle by the authority for regulating the financial services of Abu Dhabi. This would allow him to operate as monetary service provider.
“This agreement marks an important step towards obtaining by Circle of an authorization from financial services (FSP) in the progressive regulatory framework of the ABU Dhabi Global Market. »»
This also marks the start of the expansion of Circle in the Middle East and Africa.
In parallel, Circle also announced a partnership with HUB71, a technological hub in Abu Dhabi. This is made up of startups, investors, pioneer companies and government entities. This will allow the two entities to Work on the implementation of regulatory initiatives In order to accelerate the adoption of cryptocurrencies to the United Arab Emirates.
On the side of Europe, Circle is doing for the best. Indeed, his Stablecoin Eurc based on the Euro passed the symbolic bar of $ 200 million in Marketcap. A record since its creation.