Circle’s Stablecoins USDC and EURC Gain Full Regulatory Approval from DFSA
Circle has officially secured full recognition for its stablecoins, USDC and EURC, from the Dubai Financial Services Authority (DFSA).
With this milestone, these two stablecoins become the first to achieve regulatory approval under the DIFC’s crypto token framework.
The recent approval enables USDC and EURC to be utilized by over 6,000 companies within the DIFC, including financial institutions and fintech firms, for digital asset services, payments, and treasury operations.
This achievement builds on Circle’s ongoing global regulatory progress. The company has already successfully met the latest regulatory standards in Canada and complied with the European Union’s MiCA (Markets in Crypto-Assets) framework.
Furthermore, this approval reinforces Circle’s presence in the Middle East. In December 2024, the company established a local entity in the UAE to drive its expansion in the region. Additionally, Circle partnered with LuLu Financial Holdings to facilitate cross-border payments and remittances using USDC.
Dante Disparte, Chief Strategy Officer at Circle, emphasized the significance of this approval, stating, “The DFSA’s recognition of USDC and EURC as compliant crypto tokens under the DIFC framework underscores our commitment to regulatory transparency and policy alignment.”
He further highlighted that this approval strengthens the global acceptance of digital dollars and euros, making them more accessible for businesses worldwide.
This regulatory green light also aligns with the UAE’s broader approach to stablecoin oversight. In 2024, the Central Bank of the UAE introduced stablecoin payment guidelines, allowing only AED-backed stablecoins for purchases within the country.
However, digital assets regulated by DIFC, ADGM, or VARA are permitted for virtual asset transactions. With this approval, USDC and EURC are now among the officially recognized stablecoins for such use in the UAE.
