Dubai Financial Authority Approves USDC And EURC As Recognized Stablecoins

According to Foresight News, the Dubai Financial Services Authority (DFSA) has officially approved Circle's stablecoins, USD Coin (USDC) and EURC, as the first recognized stablecoins. This new regulation will enable businesses within the Dubai International Financial Centre (DIFC) to utilize these stablecoins for various digital asset applications, including payments and fund management. Since its establishment in 2004, DIFC has attracted nearly 7,000 active companies and has maintained strict regulations, allowing only approved crypto tokens to operate.