Circle has recently partnered with Hub71, Abu Dhabi's leading tech ecosystem, to foster digital asset innovation and enhance fintech infrastructure.

Incorporated in the Abu Dhabi Global Market (ADGM) in December 2024, Circle is committed to expanding compliant financial services across the Middle East and Africa.

Circle's CEO, Jeremy Allaire, noted that the recently obtained regulatory approval supports their strategy to establish a robust market presence in regions that embrace the onchain economy.

Recently, Dubai's regulatory authorities signed an agreement to promote digital asset adoption in real estate through property tokenization.

Circle's strategy emphasizes leveraging strong partnerships and regulatory support to lead the future of digital payments and stablecoins in the UAE.

The collaboration with Hub71 will provide tech innovators access to funding, professional networks, and resources to accelerate the development of financial technology solutions.

Currently, Circle's USDC ranks as the second-largest stablecoin by market capitalization, boasting approximately $62 billion in circulation, reflecting a significant growth of over 40% this year.

Last week, Circle unveiled a cross-border payments network designed to enhance the utilization of stablecoins in global transactions.

As stablecoins, which are pegged to fiat currencies like the U.S. dollar, gain popularity for crypto trading and everyday transactions, they present a cost-effective alternative to traditional banking.

Circle's Chief Strategy Officer, Dante Disparte, remarked that the recent approval signifies a successful integration of regulation and innovation.

In addition to its regional expansion, Circle is pursuing an initial public offering (IPO) in the U.S. to facilitate stock trading on the New York Stock Exchange under the ticker symbol 'CRCL.'

The UAE is establishing itself as a global Web3 hub, focusing on progressive regulations and partnerships to attract digital asset firms, and it ranked third in a crypto adoption index released in August 2024.