The Dubai Financial Services Authority has approved USDC and EURC as the first recognized stablecoins

ChainCatcher news, the Dubai Financial Services Authority (DFSA) has officially approved Circle's stablecoins USD Coin (USDC) and EURC as recognized tokens, making them the first approved stablecoins under this regulatory framework. The new regulations will enable businesses within the Dubai International Financial Centre (DIFC) to use these two stablecoins in various digital asset applications such as payments and fund management.

Since its establishment in 2004, DIFC has attracted nearly 7,000 active companies and strictly allows only recognized crypto tokens to operate.