Manama, Bahrain — Circle, the issuer of the USDC stablecoin, has entered into a strategic partnership with Bahrain-based fintech company INFINIOS to strengthen digital finance infrastructure across the Middle East, reflecting growing momentum behind regulated stablecoin adoption in the region.
The collaboration brings together Circle’s expertise in digital currencies and INFINIOS’ established presence in banking and payment services. As a Banking-as-a-Service (BaaS) provider, INFINIOS delivers digital banking and payment solutions through API-driven platforms and is a principal member of Mastercard.
Combining Digital Currency and Payments Infrastructure
The partnership builds on INFINIOS’ track record in regional fintech innovation. In 2021, the company partnered with the Commercial Bank of Dubai to expand BaaS capabilities in the UAE. Two years later, it launched Mastercard’s first wholesale travel programme in the Middle East and North Africa (MENA) region.
Circle has also been steadily expanding its footprint across the Gulf. The company established a regulated presence within Abu Dhabi Global Market (ADGM) in late 2024 and appointed Dr. Saeeda Jaffar as Managing Director for its Middle East and Africa operations.
Expanding Stablecoin Adoption Across the Gulf
The latest agreement follows a series of strategic moves by both companies aimed at advancing stablecoin-based financial services.
In December 2025, INFINIOS partnered with Mastercard to enable settlement capabilities using USDC and EURC, facilitating stablecoin-powered funding and payment solutions. More recently, in May 2026, the company signed a memorandum of understanding with AX Coin to develop regulated wallet infrastructure designed to support stablecoin adoption across Gulf Cooperation Council (GCC) markets.
Circle has pursued a similar strategy through partnerships focused on real-world financial applications. Among its regional initiatives is a collaboration with LuLu Financial Holdings to support USDC-based cross-border remittance services.
Gulf Region Emerges as Digital Finance Hub
The partnership comes as Gulf nations continue to position themselves as leaders in financial innovation. Bahrain and the UAE have introduced regulatory frameworks that encourage fintech development and digital asset adoption. Bahrain’s central bank was among the first in the region to establish a fintech regulatory sandbox, while ADGM has gained international recognition for its digital asset regulations.
Industry observers view cross-border payments as one of the strongest use cases for stablecoins. The GCC’s interconnected economies rely heavily on trade, expatriate remittances, and regional business activity, creating demand for faster and more cost-efficient payment solutions compared to traditional correspondent banking networks.
Competitive Market Continues to Evolve
Despite growing adoption, competition in the stablecoin sector remains intense. Global players such as Tether are expanding their regional presence, while locally developed digital currency projects are also gaining traction.
Market participants are closely monitoring regulatory developments across the Gulf, as governments continue to explore digital currency initiatives. The emergence of central bank digital currencies (CBDCs) could potentially create new competition for privately issued stablecoins in key payment corridors.
The Circle-INFINIOS partnership highlights the increasing integration of stablecoin technology into mainstream financial services, signaling a broader shift toward digital payment infrastructure across the Middle East.
