Dubai has officially recognized USDC and EURC as crypto tokens, marking a significant milestone for Circle, the issuer of these stablecoins. On February 24th, Circle announced that the Dubai Financial Services Authority (DFSA) has approved USDC and EURC for use within the Dubai International Financial Centre (DIFC). This landmark approval empowers businesses operating within the DIFC to seamlessly integrate these stablecoins into their routine economic operations. Circle highlights that USDC and EURC are the first stablecoins to achieve official recognition from the DFSA, a financial regulator established in 2004. This development underscores Dubai’s commitment to embracing and regulating digital assets, further solidifying its position as a leading hub for innovation in the financial technology sector.
3
