Crypto has gained significant interest and acceptance according to the change in the US view of Donald Trump’s Crypto -friendly management. Under this regime, encryption and related companies are no longer treated like enemies. As a result, Dubai Financial Services Authority (DFSA) has been approved for the first approval of Circle’s stablecoins, USDC and EURC with the approved tokens under the new encryption regime.
The DIFC company can now pay USDC and EURC.
Recently, Circle’s Stablecoins, USDC and EURC, approved in the EU and Canada, are now recognized by Dubai Financial Services Authority (DFSA). Through this approval, the company within the Dubai International Financial Center can adopt these Stablecoin for various digital asset functions such as payment and financial management.
Founded in 2004, DIFC is a major financial hub and free economic zone that accommodates businesses across the Middle East, Africa and South Asia. This area is the home of nearly 7,000 companies that reflect 25%growth since 2023. In this area, only officially recognized encryption tokens are allowed to operate business.
The USDC has secured a place as one of the first approved tokens, but the competitor, Tether, is not far. In December 2024, TETHER’s USDT was recognized as a legitimate digital asset for Abu Dhabi, and is exploring its use in the UAE’s real estate sector through partnership with local real estate platform Reely Tech.
With this approval, DIFC’s encryption exchange and the company can now provide improved stable coin support services. Dante Disparte, the chief strategic director of Circle, pointed out that this approval will significantly improve the use of the best Starables in the region, consistent with ambitious digital asset goals.
Circle’s USDC mining continues to increase
Circle has greatly increased USDC issuance. Between January 8 and February 10, the market cap of Stablecoin, which is widely used, has increased by more than 23% from $ 45 billion to $ 56 billion. As of February 24, USDC’s market capitalization amounted to $ 57.2 billion. Despite this growth, Tether’s USDT still maintains a strong lead with 63.12%of market dominance as defillama still reported.
This surge in stablecoin activity shows one of the main trends in Crypto Bull Run. Since December 2023, Stablecoins’ total market cap has reached almost $ 100 billion, increasing as utilization in encryption spaces has increased.
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Circle has recently secured a series of approval in various regions and is in the roll. In mid -2012, USDC became one of the 10 stablecoins and met the entire compliance requirements of the EU market in the regulation of Crypto Assets (MICA).
After succeeding in the EU, the USDC and the other party completely observed the Canadian regulations during the aggressive expansion. As Europe and North America are now covered, Circle clearly sets the view of expanding its existence in the Middle East.