Sign Up on MEXC
Highlights
- Circle’s USDC and EURC receive approval from Dubai’s main financial regulator.
- Financial institutions in the region can integrate the stablecoins into their offerings.
- The move underscores Circle’s expansionist ambitions into the Middle East.
After winning approvals in the European Union (EU) and Canada, Circle’s USDC and EURC have received recognition from the Dubai Financial Services Authority (DFSA). Under the approval, the stablecoins will see mainstream application by firms in the Dubai International Financial Center (DIFC).
A Regulatory First For USDC and EURC
According to a press release, stablecoin issuer Circle has officially clinched regulatory approvals for USDC and EURC in the DIFC. The approval is the first in the DIFC for stablecoins with the DFSA giving the greenlight after Circle applied with the regulator.
Flowing from the approval, crypto exchanges in the DIFC region can offer a range of stablecoin-backed services to customers. Markedly, firms can integrate USDC and EURC for payments, treasury management, and a raft of digital asset services.
Over 6,000 firms have operations in the DIFC citing its status as an independent judicial system. Circle’s Chief Strategy Officer Dante Disparte notes that the approval will spike the top stablecoin utility rates in the region with lofty digital asset ambitions.
“As the first stablecoins to receive this designation, USDC, and EURC continue to set the global standard for transparency, compliance, and utility,” said Disparte. “This milestone aligns with our mission to make digital dollars and euros more accessible, interoperable, and useful for businesses.”
To underscore its commitment to compliance, the stablecoin issuer has previously floated a local entity in line with regulatory requirements.
Building On A Streak Of Compliance
Circle is on a red-hot streak, racking a string of approvals in multiple jurisdictions in recent months. In mid-2024, USDC joined ten stablecoins to achieve full compliance with the EU’s Markets in Crypto Assets (MiCA) regulation.
Both stablecoins have since notched full levels of compliance under Canadian listing rules amid an expansionist spree. With the EU and North America in the bag, Circle undoubtedly has its sights on the Middle East.
“The DFSA’s approval of USDC and EURC as recognized crypto tokens within the DIFC is yet another validation of our constructive approach to regulatory and policy engagement,” added Disparte.
- Michael Saylor Credits Bitcoin for Strategy’s Outperformance Over ‘Mag 7’ Stocks
- XRP Overtakes Shopify, Verizon, Citigroup in Market Value as Price Eyes $6
- Altcoin Season Index Hits New High As ETH, SOL, DOGE, and XRP Rally
- ‘Huge Breakthrough,’ Peter Brandt Says as Dogecoin Reclaims $0.30 Ahead ETF Launch
- Bitcoin Bull Cycle Could Extend To 2026, Arthur Hayes Predicts
- Bitcoin Price Prediction: Q4 Rally Looms as ETF Inflows Hit $642M—Analyst eyes $150K
- Pepe Coin Price Prediction as the Token Jumps Nearly 20% – Will Whale Accumulation Take it to $0.00003?
- Pi Coin Price Prediction As Adam & Eve Pattern Signals Breakout Rally To $0.45 Ahead
- HBAR Price Prediction Amid DTCC Listing and Archax Expansion — Is $0.50 Next?
- Ethereum Price Eyes a 40% Surge as Morgan Stanley Shifts Fed Cuts Forecast
