Circle Internet Group, a fintech company based in the US, has announced that the Dubai Financial Services Authority (DFSA) has approved USDC and EURC as recognised crypto tokens within the Dubai International Financial Centre (DIFC).
This marks the first instance of stablecoins being approved under the DIFC’s crypto token regime.
With this approval, financial institutions and fintech firms operating in the DIFC can incorporate USDC and EURC into digital asset services, payments, treasury management, and other financial applications.
Only recognised crypto tokens are permitted for use and promotion within the DIFC, which hosts over 6,000 firms and provides a regulatory framework for digital assets.
This development follows Circle’s compliance with the European Union’s Markets in Crypto-Assets (MiCA) regulation and Canada’s new listing rules.
It also reflects the company’s broader commitment to the Middle East, including the establishment of a local entity in the UAE to support regional operations.
Commenting on the approval, Dante Disparte, Circle’s Chief Strategy Officer and Head of Global Policy and Operations, said:
“The DFSA’s approval of USDC and EURC as recognised crypto tokens within the DIFC is yet another 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.”
Featured image credit: edited from freepik
