TechFlow News — On December 10, Circle announced the registration of a new entity in the Abu Dhabi Global Market (ADGM) and the establishment of a strategic partnership with LuLu Financial Holdings, one of the largest financial services groups in the Middle East, to advance cross-border payments through the USDC stablecoin. LuLu Financial currently operates across the Gulf Cooperation Council (GCC), the Indian subcontinent, and the Asia-Pacific region, processing over $10 billion in transactions annually.
The two parties will initially focus on payment corridors between the Middle East, Asia, and Europe, leveraging USDC to enhance liquidity and reduce volatility. Circle CEO Jeremy Allaire stated that this collaboration will significantly advance cross-border payments in one of the world’s most dynamic remittance markets.
