The Dubai Financial Services Authority (DFSA) has officially recognized Circle’s USDC and EURC stablecoins as approved tokens in its crypto regulatory framework, making them the first stablecoins to achieve this status.
With this new approval, companies in the Dubai International Financial Centre (DIFC) can now incorporate these stablecoins into various digital asset applications, such as payments, treasury management and financial services.
The district is home to nearly 7,000 active businesses, reflecting a 25% growth since 2023. Only recognized cryptocurrencies are allowed to be used and traded in the district.
The approval of USDC and EURC as recognized tokens enhances the growing regulatory clarity in the UAE.