A circle wins the organizational gesture from Abu Dhabi Watchdog, where USDC strikes $ 62 billion

Serkel, the second source of the largest stablecoin, USDC, said he has obtained an organizational approval in principle from Abu Dhabi, which paves the way for expansion in the Middle East.

The Financial Services Regulatory Authority (FSRA) granted the Abu Dhabi Global Market (ADGM) the company the initial green light to work as a money service provider, as it approaches a full license after a full license yet to merge In the financial axis last December.

Jeremy Airir, CEO of Serkel, said in a statement on Tuesday that the approval “provides our strategy to create deep roots in the markets that adopt the Onchain economy, which creates new paths for investment and innovation in the region.”

The company has also announced a partnership with HUB71, which is the ecosystem of technology in Abu Dhabi, which includes initiatives in the ADGM digital regulatory box, granting to startup founders and provides access to institutional networks.

The company did not comment on other plans in the region because of a “quiet period” after that Provide papers A US spokesman said to be inserted as a public company.

Stablecoins, which is Crossed currencies are linked to Fiat Currencies like the US dollar, a fast -growing digital asset and a major piece of infrastructure in the Blockchain economy. It is widely used for encryption trading, and has become increasingly popular in the daily economy of payments and transfers as a cheaper and faster alternative to traditional banking systems. The total market value of Stablecoin is about 230 billion dollars, according to L. Rwa.xyz data.

Read more: Stablecoins can bring the “Chatgpt” moment to adopt Blockchain, and hit $ 3.7 million by 2030: Citi

Circle’s leading USDC code, entirely reserved by dollar assets such as government bonds, is a major player in this field with a $ 62 billion offer, an increase of more than 40 % in 2025.

As the regulations related to Stablecoins are advanced worldwide, the company flirts with the global judicial states to enter. circle Claim The rights of bragging as the first large source of Stablecoin to comply with the European Union’s mica regulations last year. also Firing USDC last month in Japan with Sbi Holdings.

Last week, Circle unveiled the cross -border payment network to increase the use of Stablecoin.