Dubai has taken an important step in adopting digital assets by officially recognizing USDC and EURC as the first encryption code in Dubai Financial Services (DFSA).
Through this approval, financial institutions and digital asset asset companies operating in the Dubai International Financial Center (DIFC) can now integrate USDC and EURC into various digital asset services, including payments, treasury management and broader financial applications.
- Patrick Hansen’s announcement, the first manager of Sirkel, focuses on the European Union’s strategy and policy. source.
Stablecoins acts as a basic bridge between traditional financing and digital assets, allowing cross -border transactions more efficient, chain settlements, and Defi integration. This step can also push increased transfers flow through platforms based on the United Arab Emirates, making Dubai a major corridor for global digital payments.
DIFC is home to more than 6000 companies and provides an organized environment for companies to work, ensuring legal clarity in digital financing. Last year, the Binance Corporation granted a full VASP license, allowing exchange to provide retailers and institutions.
This recognition follows the last Sirkel Successful success in securing organizational approvals in the European Union under Mika and compliance with the Stablecoin list in Canada.
USDC and EURC approval to pay adoption
According to Dante Disparte, Circle’s chief official, this teacher verifies the company’s commitment to work in a constructive manner with organizers all over the world. He stressed that the approval of USDC and EURC will help increase adoption, and make digital dollars and euros within the reach of companies, developers and financial institutions worldwide.
Dubai’s move is in line with the broader organizational batch in the UAE organizational to organize a clear framework for digital assets. In 2024, the Central Bank of the United Arab Emirates implemented new licensing and monitoring policies from Stablecoin, which paves the way for more organized adoption. While Circle is the first to get this classification in DIFC, competitors such as Tether (USDT) also enrich a mark in other regions of the Emirates, including Abu Dhabi.
