TLDR
- Circle obtains Abu Dhabi Global Market license to offer USDC stablecoin services in United Arab Emirates
- Bybit exchange partnership expands USDC beyond Circle’s traditional Coinbase reliance
- Dr. Saeeda Jaffar hired from Visa to manage Middle East and Africa expansion
- USDC will integrate across Bybit’s trading, savings, and payment systems
- Dual UAE approvals position Circle to serve growing Middle East crypto market
Circle landed regulatory approval in Abu Dhabi this week. The Financial Services Regulatory Authority granted the company a Financial Services Permission license.
The approval lets Circle operate as a Money Services Provider in the UAE. USDC stablecoin can now be used for business payments and settlements across the region.
Circle appointed Dr. Saeeda Jaffar to lead Middle East operations. She joins from Visa where she worked in payments processing.
The company received preliminary approval back in April. Tuesday’s announcement makes the license official.
Circle’s timing looks strategic. Binance received similar licenses from Abu Dhabi regulators just one day before Circle’s announcement.
Bybit Partnership Changes Distribution Game
Circle partnered with Bybit on Monday. The deal gives USDC access to the second-largest crypto exchange by trading volume.
Bybit has relied heavily on Tether’s USDT stablecoin. The new partnership diversifies the exchange’s stablecoin offerings.
USDC will expand across Bybit’s spot and derivatives markets. The stablecoin will also integrate into savings products and card rewards.
Circle’s fiat infrastructure will connect with Bybit’s platform. Users will get faster deposits and withdrawals through the integration.
The partnership helps Circle reduce Coinbase dependence. Circle has leaned on the U.S. exchange for most USDC distribution.
Chasing Tether’s Market Lead
USDC holds $78 billion in market cap. Tether’s USDT dominates as the largest stablecoin globally.
Circle needs global partners to close the gap. The stablecoin market has grown to $300 billion total.
Binance partnered with Circle almost exactly one year ago. That deal brought USDC to the world’s largest exchange.
The Bybit partnership follows the same playbook. Circle is building distribution through major exchange relationships.
Analysts have flagged stagnant growth as a risk for Circle stock. The company needs strong adoption metrics to maintain investor confidence.
Dubai registered USDC and EURC earlier this year. Circle now has regulatory approval in both major UAE financial centers.
The Middle East has become a crypto hub. Regulatory frameworks in the UAE attract digital asset companies.
Bybit emphasized regulatory compliance in its partnership announcement. The exchange positions itself as a transparent platform.
Circle’s dual strategy combines regulatory approvals with exchange partnerships. The company is building infrastructure and distribution simultaneously.
USDC trails Tether but ranks as the second-largest stablecoin. Circle’s partnerships aim to increase circulation and trading volume.
The UAE market offers access to Middle East and African customers. Circle’s license opens doors across the region.
Stablecoins are gaining acceptance in traditional finance. Cross-border payments drive demand in markets with limited banking infrastructure.
Circle received its Abu Dhabi license following Dubai registration in 2025. The company now operates in both UAE financial centers with full regulatory backing.
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