Following the regulatory approvals in the European Union and Canada, Circle received approval for USDC and EURC from the Dubai Financial Services Authority (DFSA). Onay was provided to expand the relevant digital asset services of companies operating at the Dubai International Finance Center (DIFC).
Circle received approval
In line with the approval given by DFSA, financial institutions in the DIFC region will be able to provide services such as USDC and EURC -based payment and Treasury management. This development is considered an important step towards increasing the use of digital assets in the region.
More than 6,000 enterprises operate in DIFC, while the independent justice system and regulatory structure of the region provide significant advantages. The institution continues to work in order to prepare the ground for the more widespread use of digital assets in the business world.
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Compliance and expansion strategy
Circle created a local legal entity in accordance with the requirements in the region to adapt to local regulations. The company says that it has a competitive advantage at the global level by receiving approvals that comply with the European markets in March 2024.
Dante Disparte, Circle’s strategy director, said that the approval received has set a new standard in transparency, harmony and usability of digital assets.
“USDC and EURC is the first example of digital assets that receive the first approval with these qualities. This step supports our progress in accordance with our mission to ensure that the digital euros and the dollar become more accessible and functional. ” – Dante Disparte
Recently, thanks to the completed approvals, Circle continues its strategy for growth and expansion in the field of crypto assets. The compliance approvals of the company in Europe and North America support the long -term growth potential by opening the door to similar success in the Middle East.
Compliance with legal regulations and regional expansion steps may be instrumental in increasing competition among digital asset providers. Related approvals are expected to support digital transformation in financial services.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
