Circle Expands into the Middle East with ADGM Incorporation and Strategic Partnership with LuLu Financial Holdings

Circle Internet Group, Inc., a global digital financial technology firm, is pleased to announce the incorporation of an entity in the ADGM, a key milestone in its strategic expansion into the Middle East and Africa. Circle has also entered into a partnership with LuLu Financial Holdings (‘LuLuFin’), and its affiliates, one of the largest financial services conglomerates in the region, to facilitate remittances and cross-border payments with USDC, Circle’s fully-reserved digital dollar. 

As Circle expands its global footprint, the company remains committed to transforming financial markets with reliable and regulated blockchain solutions. Circle's mission centers on enhancing financial inclusion and accessibility by deploying a stablecoin infrastructure that addresses gaps in financial services while complementing existing payment systems, particularly in high-traffic remittance corridors such as those traversing the Middle East.

The partnership with LuluFin exemplifies this vision, deploying USDC as a robust platform to enable near-instant payments that enhance operational efficiency and reduce transaction costs.

Enhancing Remittances and Cross-border Payments with LuluFin

LuLuFin operates across the Gulf Cooperation Council (GCC), Indian sub-continent and APAC region, managing over $10 billion in annual transactions. Through this partnership, LuluFin will optimize remittances and cross-border payment flows using USDC, initially targeting corridors between the Middle East and Asia, as well as Europe. By leveraging USDC, LuLuFin will benefit from increased liquidity and reduced volatility, while harnessing the speed, immutability, and traceability of blockchain technology.

"This partnership with LuLuFin marks a significant step forward in the evolution of cross-border payments within one of the world’s most dynamic remittance corridors," said Jeremy Allaire, Co-founder and CEO of Circle, from the sidelines of Abu Dhabi Finance Week. "By incorporating in the ADGM and collaborating with industry leaders like LuLuFin, we strengthen our commitment to advancing the digital asset economy in the region".

“Our partnership with Circle reflects our unwavering commitment to innovation. At LuLu Financial Holdings, we have harnessed the transformative power of blockchain technology, enabling better, faster, and more seamless cross-border payment experiences for our customers. This collaboration with Circle marks another significant step forward in that journey, reinforcing our resolve to redefine remittance experiences with cutting-edge solutions,” said Adeeb Ahamed, Managing Director of LuLu Financial Holdings.

"We are proud to welcome Circle, the preeminent global stablecoin issuer,  to one of the largest financial districts in the world — ADGM," added Arvind Ramamurthy, Chief of Market Development at ADGM. "Circle’s products represent a powerful platform for intelligent financial services, and, alongside ADGM’s robust ecosystem, are positioned to unlock a myriad of opportunities for technological innovation and next-generation financial applications in the region. Their contribution will further strengthen ADGM’s position as a global financial powerhouse.”

"The Middle East is a crucial frontier for Circle’s mission of raising global economic prosperity through the frictionless exchange of value" said Miriam Kiwan, VP, MEA at Circle. "By collaborating with impactful partners like LuluFin, we aim to transform how cross-border payments are conducted, ultimately delivering substantial benefits to individuals and businesses throughout the region."