This approval was granted by the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM).
For investors and innovators watching the Middle East closely, this move signals more than just a regulatory checkbox. It’s a door opening to an economy that’s positioning itself at the crossroads of digital finance. As Jeremy Allaire, the CEO and Co-Founder of Circle, put it, the UAE is becoming “a region that invites visionary operators to build the future of the internet financial system.”
Circle Taps Hub71 to Boost Fintech Innovation in Abu Dhabi
Beyond regulatory approval, Circle is deepening its local presence through a strategic partnership with Hub71, Abu Dhabi’s leading global tech ecosystem. This collaboration gives Circle direct access to a network of over 500 startups and venture capital firms, creating a sandbox for rapid financial technology development.
Hub71 isn’t just a co-working space—it’s an innovation accelerator backed by the Abu Dhabi government. With this partnership, Circle will plug into the “Digital Assets Specialist ecosystem,” a framework designed to support blockchain firms with capital, talent, and strategic connections. The goal is to help digital asset startups go from idea to product faster. Also, to scale securely in one of the world’s most dynamic regions for fintech.
We’ve received In-Principle Regulatory Approval from @ADGlobalMarket! 🇦🇪
We have also entered into a strategic collaboration with @hub71ad, to strengthen innovation within the digital assets space, and advance access to trusted, transparent, and regulated stablecoin… pic.twitter.com/iPwyBmZTIu
— Circle (@circle) April 29, 2025
Circle’s expansion into Abu Dhabi comes at a time when stablecoins like USDC. As seen during Argentina’s recent inflation crisis, stablecoins provided a lifeline for citizens looking to store value.
More About Circle
Since its launch in December 2024, Sonic has emerged as the fastest-growing blockchain for the Bridged USDC Standard. As of April 29, it has amassed over $480 million in bridged USDC and more than $1 billion in total value locked (TVL) across 125+ apps. This growth highlights the strength of a unified stablecoin approach, with Bridged USDC now making up over 87% of all stablecoin circulation on Sonic.
Native @USDC. CCTP V2. Soon.
Here’s what you need to know before the upgrade by @Circle happens.
🔗 https://t.co/4cXSfpq9O5 pic.twitter.com/yrEzLVZY5H
— Sonic Labs (@SonicLabs) April 29, 2025
To build on this momentum, Sonic is now upgrading to native USDC, offering a smoother experience for developers and users alike. The transition is automatic—no asset swaps or code changes required. This move also brings in CCTP V2, Circle’s cross-chain protocol, allowing secure and efficient transfers between major chains like Ethereum, Avalanche, and Base, while boosting smart contract performance.
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