The stablecoins has now joined Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple’s XRP, and Toncoin (TON) in Dubai’s approved list of tradable cryptocurrencies.
By Chimamanda U. Martha
Edited by Marco T. Lanz
Updated
3 mins read
On Monday, February 24, Circle, a global financial services company and stablecoin issuer, announced that it has secured approval from the Dubai Financial Services Authority (DFSA) to offer its USDC and EURC stablecoins as regulated digital assets in the region.
With this approval, USDC $1.00 24h volatility: 0.0% Market cap: $60.32 B Vol. 24h: $7.10 B and EURC $1.08 24h volatility: 0.2% Market cap: $149.12 M Vol. 24h: $34.29 M have become the first stablecoins to be recognized under Dubai’s crypto regulatory framework. This milestone enables financial institutions licensed to operate within the Dubai International Financial Centre (DIFC) to integrate the stablecoins into their platforms for cross-border payments, asset management, treasury solutions, and other financial applications.
The two stablecoins now joined growing list of cryptocurrencies such as Bitcoin BTC $85 073 24h volatility: 2.8% Market cap: $1.69 T Vol. 24h: $30.29 B , Ethereum ETH $1 908 24h volatility: 5.9% Market cap: $230.34 B Vol. 24h: $17.01 B , Litecoin LTC $88.55 24h volatility: 6.0% Market cap: $6.71 B Vol. 24h: $446.27 M , Ripple’s XRP $2.23 24h volatility: 6.0% Market cap: $129.72 B Vol. 24h: $3.04 B , and Toncoin TON $3.98 24h volatility: 3.1% Market cap: $9.88 B Vol. 24h: $478.77 M permitted within the DIFC. The DIFC serves as a major financial hub connecting businesses across the Middle East, Africa, and South Asia (MEASA).
With over 7,000 registered firms, the district enforces strict compliance standards, allowing only regulated digital assets to operate within its ecosystem.
The inclusion of Circle’s USDC and EURC in the DIFC marks a significant step toward broader stablecoin adoption, setting a regulatory benchmark for other issuers to follow.
“As the first stablecoins to receive this designation, USDC and EURC continue to set the global standard for transparency, compliance, and utility. This milestone aligns with our mission to make digital dollars and euros more accessible, interoperable, and useful for businesses, developers, and financial institutions worldwide,” said Dante Disparte, top executive at Circle.
The approval in Dubai builds on Circle’s recent regulatory successes in Europe and Canada.
In Europe, Circle became the first stablecoin issuer to comply with the EU’s Markets-in-Crypto-Assets (MiCA) regulation after securing an Electronic Money Institution (EMI) license from France’s banking regulator (ACPR).
This regulatory milestone allowed USDC to remain legally tradable across the EU, while several non-compliant stablecoins like USDT faced delisting.
Meanwhile, the approval of USDC and EURC as recognized digital assets reflects Dubai’s increasing regulatory clarity for cryptocurrencies.
Last year, the UAE Central Bank introduced a new regulatory framework for overseeing and licensing stablecoins. During that same period, Dubai updated its cryptocurrency token regulations, allowing both domestic and foreign investment funds to engage with digital assets.
In addition to securing regulatory approvals, Circle has been actively increasing USDC adoption across major blockchain ecosystems.
This month alone, the company minted $2 billion worth of USDC on Solana, strengthening its dominance in decentralized finance (DeFi).
Earlier today, Coinspeaker reported that an additional $250 million USDC was minted on Solana, bringing its market share on the blockchain to 78%, surpassing Tether’s USDT.
With its growing global regulatory approvals and increasing blockchain integrations, Circle continues to expand USDC’s role in cross-border finance, DeFi, and institutional crypto adoption.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
