Cryptocurrency
Dubai Officially Approves the Use of Stablecoins USDC and EURC
On February 25, 2025, the Dubai Financial Services Authority (DFSA) approved Circle's stablecoins, USD Coin (USDC) and Euro Coin (EURC), making them the first stablecoins officially recognized in the Dubai International Financial Centre (DIFC). This milestone enhances Dubai's role as a global financial hub, allowing businesses to use USDC and EURC for digital asset transactions, payments, and treasury management. The move aligns with the UAE's vision for a digital economy and could reshape the $157 billion stablecoin market, offering a competitive edge over Tether (USDT) through transparency and regulatory compliance. The approval paves the way for greater global adoption and integration of stablecoins into traditional financial services.
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