Dubai recognises Circle’s USDC and EURC as official stablecoins
The approval, granted under the Dubai International Financial Centre’s (DIFC) stringent regulatory framework, makes Circle the first stablecoin issuer to receive regulatory clearance in Dubai, enhancing its global market position.
Dubai’s financial regulator has officially recognised Circle’s USDC and EURC stablecoins, marking a major milestone for digital assets in the region. The Dubai Financial Services Authority (DFSA) has approved both tokens under the new regulatory framework of the Dubai International Financial Centre (DIFC), an independent economic zone.
The DIFC, operating since 2004, enforces strict rules on digital assets, permitting only officially recognised tokens for financial services. With this approval, Circle becomes the first stablecoin issuer to receive regulatory clearance in Dubai, strengthening its presence in the global crypto market.
Circle’s success in Dubai follows recent regulatory approvals in the European Union and Canada, where the company has secured compliance with new crypto asset laws. Meanwhile, rival stablecoin issuer Tether has also expanded in the UAE, gaining approval for USDT in the Abu Dhabi Global Market in late 2024.
This recognition underlines Dubai’s growing influence in the regulated digital asset space, positioning the city as a key hub for blockchain innovation and stablecoin adoption.
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