Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
USDC and EURC have emerged as the leading stablecoins to gain formal acknowledgment as accepted crypto-assets within the Dubai International Financial Centre (DIFC).
Circle received authorization from the Dubai Financial Services Authority (DFSA) to utilize USDC and EURC within the DIFC. This permits banks, FinTech companies, and other entities operating in the Dubai International Financial Centre to utilize USDC and EURC for digital transactions, treasury management, and various financial activities.
Related Posts
According to DFSA regulations, only officially recognized cryptocurrency assets may be utilized and advertised within the DIFC, which hosts over 6,000 registered companies. This regulatory endorsement establishes USDC and EURC as legally recognized assets in one of the largest financial centers in the Middle East.
Dante Disparte, Chief Strategy Officer and Head of Global Policy & Operations at Circle, emphasized that the DFSA’s decision enhances the transparency of USDC and EURC. He noted that one of Circle’s primary objectives is to increase the accessibility of digital dollars and euros for businesses, developers, and financial institutions globally.
The acceptance of USDC and EURC within the Dubai International Financial Centre further solidifies Circle’s status as the sole global stablecoin issuer compliant with the MiCA regulations in the EU.
The message Dubai International Financial Centre Officially Approves USDC and EURC first appeared on CoinsPaid Media.
