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Circle obtains ADGM license in UAE, USDC expands its footprint but CRCL stock price under pressure
On December 9, it was reported that after Circle's stock price saw a strong rebound of over 10% in the past week, some profit-taking occurred, while the company's regulatory progress in the Middle East continued to accelerate. On December 9, USDC stablecoin issuer Circle Internet officially obtained a Financial Services Permission (FSP) license from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), allowing it to provide regulated monetary services in the Abu Dhabi International Financial Center (IFC). This license enables Circle to further expand its institutional-level payment and settlement services in the UAE and promote wider adoption of USDC in the Middle East. CEO Jeremy Allaire stated that ADGM’s regulatory framework sets high standards for the stablecoin industry in terms of transparency and risk management, helping stablecoins achieve large-scale adoption in real-world financial environments.