Dubai Recognizes and Regulates USD Coin (USDC) and EURC by Circle

Circle, stablecoin issuer company, announced that USD Coin (USDC) and EURC have been recognized and become regulated by the Dubai Financial Services Authority (DFSA).

The Dubai Financial Services Authority (DFSA) has recognized and regulated two stablecoins, USD Coin (USDC) and EURC, issued by Circle. Now in Dubai, these stablecoins can be integrated into the operations of financial institutions and fintechs operating in the Dubai International Financial Centre (DIFC).

Circle, stablecoin issuer company, announced the recognition of USD Coin (USDC) and EURC by the Dubai Financial Services Authority (DFSA).

“USDC and EURC are the first stablecoins recognized by the Dubai Financial Services Authority (DFSA)! This strengthens Circle’s position as the only major global issuer of stablecoins compliant with European Union regulations (MiCA) and Canada’s new listing rules. This recognition expands access to USDC and EURC for payments, trading, and financial services for the over 6000 companies based in Dubai. @DIFC”

In practice, thanks to this approval, the over 6,000 companies among financial institutions and fintech that operate in the Dubai International Financial Centre (DIFC), can integrate USDC and EURC.

Specifically, the two stablecoins from Circle will be integrated into digital asset services, payments, treasury management, and a range of financial applications.

For Circle, the recognition and compliance of its stablecoins in the DIFC is a milestone, which strengthens its long-term commitment to the Middle East and beyond.

In this regard, Dante Disparte, Chief Strategy Officer and Head of Global Policy and Operations at Circle, said:

“The approval by the DFSA of USDC and EURC as recognized crypto tokens within the DIFC is a further validation of our constructive approach to regulatory and policy engagement. As the first stablecoins to receive this designation, USDC and EURC continue to set the global standard for transparency, compliance, and utility. This milestone aligns with our mission to make digital dollars and euros more accessible, interoperable, and useful for businesses, developers, and financial institutions worldwide.”

In fact, Circle is the first global stablecoin issuer to be compliant with the MiCA regulations of the European Union and the new listing rules of Canada.

At the time of writing, USDC is in sixth place in the crypto rankings, with a total of over 56 billion dollars in market cap. USDC is the second largest crypto in the world, after Tether (USDT) which, at the time of writing, has a market cap of over 142 billion dollars.

The market cap curve of USDC recorded a decline starting from June 2022, when it began to drop from 55 billion dollars until December 2023, where it was worth just 24 billion dollars. From the beginning of 2024, USDC then recorded its comeback, up to its current peak.

At the beginning of 2025, Dubai made headlines for having announced its new project: the construction of the Crypto Tower.

This is a 17-story skyscraper that will become the global center of digital finance, giving Dubai a pioneering role in blockchain technology.

The Crypto Tower is expected to be completed by 2027 and should stimulate innovation and collaboration among companies, startups, and institutions in the crypto sector