PANews reported on April 29 that according to The Block, stablecoin issuer Circle has obtained preliminary approval from the Financial Services Regulatory Authority of the Abu Dhabi Global Market (ADGM) to operate as a currency service provider. Previously, Circle established a new legal entity in ADGM in December 2024 to expand into the Middle East and Africa markets. This preliminary approval means that Circle has met the requirements for conducting financial business in ADGM, pending final approval. Circle plans to further expand in the region and has submitted an IPO application to the US Securities and Exchange Commission earlier this month.