Tag: AbuDhabi

USDC stablecoin issuer Circle has received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), the company announced on April 29. The approval moves Circle closer to obtaining a full Financial Services Permission (FSP) license, allowing it to operate as a regulated money services provider in the…

A trio of major Abu Dhabi institutions, including the Emirate’s sovereign wealth fund, have teamed up to launch a new dirham-pegged stablecoin. Abu Dhabi’s sovereign wealth fund ADQ, the United Arab Emirates’ largest bank, First Abu Dhabi Bank (FAB), and the massive conglomerate the International Holding Company, have partnered to launch the stablecoin, pending regulatory approval,…

Abu Dhabi Global Market (ADGM), a financial zone with over $635 billion in assets under management, signed a Memorandum of Understanding (MoU) with Chainlink in a move to connect the world of traditional finance with blockchain data. The agreement will allow ADGM to use Chainlink’s suite of tools, such as data feeds and interoperability technology, ADGM said…

Abu Dhabi-based investment firm MGX has invested $2 billion in cryptocurrency exchange Binance, potentially marking one of the biggest funding deals in the industry’s history. In a March 12 announcement, Binance said the transaction was the first institutional investment in the cryptocurrency exchange. Once finalized, the deal will be funded entirely through stablecoins. Binance declined Cointelegraph’s…

The Beam Foundation has disclosed plans for an upcoming venture fund in Abu Dhabi targeting blockchain gaming projects. According to a Dec. 11 announcement, the fund will launch in the first half of 2025 and manage $150 million in capital backed by local investors. The fund’s investment thesis is primarily focused on blockchain-based games and…

The Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority has officially recognized Tether’s USDt stablecoin as an accepted virtual asset (AVA). With the approval, licensed financial service providers within the ADGM can offer services related to USDT to facilitate its integration into regulated financial ecosystems. The recognition covers USDT issued on multiple blockchains —…