Circle's USDC and EURC Stablecoins Receive Regulatory Approval from Dubai Financial Services Authority

Under the approval, the stablecoins will see mainstream application by firms in the Dubai International Financial Center (DIFC).

Stablecoin issuer Circle has secured regulatory approvals for its USDC and EURC stablecoins in the Dubai International Financial Center (DIFC). The approval marks the first time stablecoins have been recognized by the Dubai Financial Services Authority (DFSA).

According to a press release, Circle applied for the approvals with the DFSA, and the authority’s recognition will now allow crypto exchanges in the DIFC region to offer a variety of stablecoin-backed services to customers.

Specifically, firms will be able to integrate USDC and EURC for payments, treasury management, and a range of digital asset services. The DIFC is home to over 6,000 firms, and the approvals will likely boost the use of stablecoins in the region.

“As the first stablecoins to receive this designation, USDC and EURC continue to set the global standard for transparency, compliance, and utility,” said Dante Disparte, Chief Strategy Officer at Circle.

“This milestone aligns with our mission to make digital dollars and euros more accessible, interoperable, and useful for businesses.”

Circle has highlighted its commitment to compliance in the Middle East by establishing a local entity, as required by the regulator. The stablecoin issuer is also expanding its team in the region.

“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.

Both stablecoins have also achieved full levels of compliance under Canadian listing rules. With the EU and North America covered, Circle is now targeting the Middle East.