News Roundup — Circle Gets Abu Dhabi Regulatory Nod to Expand in Middle East

Major news stories this week;

1. Circle Gets Abu Dhabi Regulatory Nod to Expand in Middle East
2. Visa and Baanx Launch USDC Stablecoin Payment Cards
3. 21Shares Files for US Spot Sui ETF After European Launch
4. Saylor’s Strategy Reports Fifth Consecutive Quarterly Loss, Announces $21 Billion Equity Offering
5. EU to Ban Anonymous Crypto Accounts and Privacy Coins by 2027

Story Summaries;

1. Circle received in-principle approval from Abu Dhabi’s FSRA, advancing its plans to launch regulated USDC services in the UAE. It also partnered with Hub71 to support digital asset innovation, as part of its global expansion amid the UAE’s push to become a Web3 hub.
2. Baanx has teamed up with Visa to launch stablecoin payment cards linked to self-custodial wallets, starting with Circle's USDC in the U.S. The cards allow users to spend USDC directly from their crypto wallets, converting it to fiat in real-time. Baanx is also collaborating with Mastercard on a similar card for MetaMask wallets. These innovations aim to enable low-cost, global payments and bring stablecoin adoption into real-world transactions.
3. 21Shares has filed with the SEC to launch a spot Sui ETF in the U.S., following its European Sui Staking ETP launch in 2024. The ETF will track SUI by holding the tokens directly, without leverage or derivatives. This filing adds to the growing list of over 70 crypto ETF applications awaiting SEC approval, reflecting rising institutional demand for crypto products. 21Shares follows Canary Capital’s earlier Sui ETF submission in March 2025.
4. MicroStrategy, the largest corporate Bitcoin holder, reported a $5.91 billion quarterly loss due to unrealized losses on its crypto holdings, with Bitcoin priced at $82,445 at quarter-end. Despite this, its shares surged after Trump’s 2024 election victory, helping it join the Nasdaq 100 index. The company also announced a $21 billion stock offering to acquire more Bitcoin. As of April 2025, it holds 553,555 bitcoins worth $37.90 billion. Strategy’s shares are up 32% in 2025, outpacing the Nasdaq 100.
5. The EU will ban anonymous crypto accounts and privacy coins like Monero and Zcash by 2027 under new AML regulations. Financial institutions and crypto service providers will be prohibited from handling these accounts and coins. The regulations also introduce stricter oversight of crypto firms, with direct AML supervision starting in 2027 for companies with significant operations across multiple EU states.
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And that’s all for last week’s news! Wishing you a great week ahead!