Dubai agrees to USDC and EURC in Circle as the first recognized Stillion under a new encoding framework
Crypto has gained great attention and acceptance after a change in the viewpoint of the United States of America under the management of a friendly Donald Trump for encryption. Under this system, cryptocurrencies and relevant companies are no longer treated like enemies. As a result, the Dubai Financial Services Authority (DFSA) adopted the encryption movement by approving Stablecoins in Circle, USDC and EURC, as symbols approved under the new encryption system, making it among the first to obtain this approval.
DIFC companies can now use USDC and EURC for payments and more
Stablecoins Circle, USDC and EURC, newly It has been approved in the European Union and Canada, and has now gained an appreciation from the Dubai Financial Services Authority (DFSA). This support allows companies within the Dubai International Financial Center (DIFC) to adopt this Stablecoins for various digital asset functions such as payments and treasury management.
DIFC, which was established in 2004, is a major financial center and a free economic zone that meets business across the Middle East, Africa and South Asia. It is home to about 7,000 companies, which reflects 25 % growth since 2023. In this province, only the formulas of officially recognized encryption are allowed for commercial operations.
Although USDC has got its position as one of the first approved symbols, its competitor’s rope is not far away. In December 2024, USDT gained the estimate as a legal digital origin in Abu Dhabi and explores the uses in the real estate sector in the United Arab Emirates through a partnership with Reelly Tech, a local real estate platform.
After these approvals, exchanges and companies in Crypto can provide enhanced services supported by Stablecoin. Dante Disparte, chief strategy official in Serkel, notes that this approval will greatly enhance the use of the best stablecoins in the region, and is compatible with the goals of ambitious digital assets.
The transition of the Circle League continues in the American session
The circle has increased significantly from its version of USDC. Between January 8 and February 10, the market value of this stablecoin has jumped widely from $ 45 billion to $ 56 billion, which represents a 23 % increase. As of February 24, the market value of USDC amounted to $ 57.2 billion. Despite this growth, the USDT still maintains a powerful progress of the market domination by 63.12 %, as Defillama said.
This increase in Stablecoin’s activity shows one of the main trends of the current Crypto Bull. Since December 2023, the total maximum Stablecoins market has been inflated by about $ 100 billion, reflecting its increasing use in the encryption space.
Also read: Citadel Securities Eyes Crypto Trading after Trump’s support; The main exchanges on the horizon
Circle was on a roll, where she got a series of approvals across various regions recently. In mid -2014, USDC became one of the ten stablecoins to meet the requirements of full compliance with the European Union markets in the assets of encryption (MICA).
After their success in the European Union, both USDC and its counterpart achieved full compliance with Canadian regulations during a period of aggressive expansion. With its coverage in Europe and North America, Circle clearly puts its attention to expanding its presence in the Middle East.
