According to TechFlow, on December 9, Circle Internet Group (NYSE: CRCL) announced that it has obtained a Financial Services Permission (FSP) from the Financial Services Regulatory Authority of the Abu Dhabi Global Market (ADGM), allowing it to operate as a money services provider in this international financial center.
At the same time, Circle has appointed Dr. Saeeda Jaffar as Managing Director for the Middle East and Africa. Dr. Jaffar previously served as Senior Vice President and Group Country Manager for the Gulf Cooperation Council at Visa. She will be responsible for leading Circle’s regional strategy, deepening partnerships with financial institutions and enterprises, and accelerating the adoption of trusted digital dollars and on-chain payment solutions in the UAE and the broader Middle East and Africa markets.
Circle co-founder and CEO Jeremy Allaire stated that regulatory clarity is the foundation for building a more open and efficient internet financial system. This license enables Circle to expand regulated payment and settlement use cases for businesses, developers, and financial institutions in the UAE.
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