Dubai Recognizes USDC and EURC Stablecoins
The Dubai International Financial Centre (DIFC) has officially recognized USDC and EURC as approved stablecoins, marking a significant step forward in integrating digital currencies into the region’s financial framework.
This action aligns with DIFC’s dedication to promoting innovation while ensuring strong regulatory oversight in the fast-evolving digital asset space.
Issued by Circle, USDC and EURC are stablecoins linked to the US dollar and the euro, respectively. These stablecoins are designed to maintain their value stability by being fully backed by their respective fiat currencies, providing a dependable medium of exchange in the digital economy.
Circle has ensured compliance for both USDC and EURC with the European Union’s Markets in Crypto-Assets regulations, securing an Electronic Money Institution license from France’s Autorité de Contrôle Prudentiel et de Résolution. This commitment to rigorous regulatory standards enhances the global credibility and acceptance of its stablecoins.
