USDC and EURC have become the first stablecoins to gain approval from the Dubai Financial Services Authority (DFSA) after a prolonged period of regulatory uncertainty. Following successful approvals in the European Union and Canada, Circle’s stablecoins are now cleared for mainstream use within the Dubai International Financial Center (DIFC).
According to an official press release, Circle has secured DFSA approval for USDC and EURC, marking a significant regulatory milestone as these are the first stablecoins to receive such clearance in the DIFC. With this green light, crypto exchanges in the region can now offer a variety of services backed by these stablecoins, including payment processing, treasury management, and other digital asset solutions.
The DIFC, home to over 6,000 firms operating under an independent judicial framework, is expected to see a boost in stablecoin utility. Circle’s Chief Strategy Officer, Dante Disparte, highlighted that this approval reinforces the global standards of transparency, compliance, and utility that USDC and EURC are known for. He emphasized that this achievement is in line with Circle’s mission to make digital dollars and euros more accessible and functional for businesses.
Further cementing its regulatory commitment, Circle had previously established a local entity to meet regional requirements. Riding a wave of compliance victories, with USDC having joined a group of ten stablecoins in adhering to the EU’s MiCA regulation and achieving full compliance under Canadian listing rules, Circle is now setting its sights on expanding its influence in the Middle East.
Disparte added that the DFSA’s approval of USDC and EURC as recognized crypto tokens within the DIFC validates their proactive regulatory strategy and policy engagement efforts.
