Circle Internet Corp. (CRCL) saw its stock price surge 5.05% during intraday trading on Tuesday, driven by the company's announcement of receiving a Financial Services Permission license from the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM). This license allows Circle to operate as a money services provider in the UAE, marking a significant step in its expansion strategy.
The regulatory approval enables Circle to offer regulated payment and settlement services in the UAE, catering to businesses, developers, and financial institutions. Additionally, the company appointed Dr. Saeeda Jaffar, a former Visa executive, as Managing Director for Circle Middle East & Africa, further strengthening its regional leadership.
Investors responded positively to the news, as the license aligns with the UAE's efforts to establish a regulated digital asset ecosystem and positions Circle for growth in the Middle East and Africa.
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