Circle just scored a major regulatory win in the desert, and it's about to make USDC rain across the Middle East.

The USDC issuer snagged "in-principle approval" from Abu Dhabi's financial watchdogs to operate as a money services provider in the UAE.

This is another demonstration that Circle is establishing its presence in one of the world's most dynamic crypto regions.

The Middle East Money Move

Circle didn't just randomly pick Abu Dhabi to expand its empire – this was a strategic move.

They have been meticulously building their Middle Eastern presence since December, when they established a presence in the Abu Dhabi Global Market (ADGM).

CEO Jeremy Allaire is discussing "deep roots in markets embracing the on-chain economy" – corporate speak for "we're going where regulators don't dislike crypto."

The UAE has been rolling out the red carpet for crypto firms, while the US and Europe play a game of regulatory whack-a-mole, and Circle is happy to RSVP to that party.

What "In-Principle" Means

Tempering expectations means clarifying that this isn't the final boss approval yet.

"In principle" is regulatory speak for "we like you, but you still have some paperwork to do."

Circle's been through this dance before in Singapore, where they went from "in-principle" to fully licensed in just a few months.

Abu Dhabi's Financial Services Regulatory Authority is not known for dragging its feet so full approval could be granted at any time.

The Strategic Partners

Circle isn't going solo in the Middle East – they're building a whole squad.

They have teamed up with LuLu Financial Holdings, a remittance heavyweight, to facilitate cross-border payments with ease in the region.

They're also in bed with Hub71, Abu Dhabi's tech ecosystem, helping local startups gain that Web3 education, which is like sowing the seeds of a future crop to harvest – knowledge is power, and Circle plans to educate the region on its own terms. 

That means the move goes beyond just capturing short-term market share – it's about building infrastructure for the next decade of payments while ensuring that USDC is at the front of everyone’s mind.

USDC's Empire Expands

USDC's supply just hit $62 billion – that's a quarter of the entire stablecoin market.

Circle is playing the long game, securing regulatory approval everywhere from the EU to Japan, while Tether continues to print money.

The stablecoin wars are intensifying, and Circle's "ask permission, not forgiveness" approach is finally yielding dividends.

With the company's IPO filing fresh off the press in April, we're watching the transformation of crypto's most regulation-friendly player in real time.

Squaring The Circle

Circle just secured its foothold in one of crypto's most important growth regions.

The Middle East and Africa are remittance powerhouses, and USDC is positioning to be the default rail for moving money across borders.

For the average crypto user, this means USDC's global dominance is nearly inevitable – resistance is futile.

Tether executives are probably furiously taking notes on how to get regulators actually to like you.