USDC & EURC Just Received Approved From DFSA. Does It Mean A Bull Run Is Awaiting?

Crypto has been getting widespread recognition and acceptance ever since the USA changed its attitude towards it. Under Donald Trump’s new crypto-friendly regime, crypto and crypto-based firms are not hooded out like outlaws. In fact, the new regime and SEC are looking to use the power of digital tokens. In a similar fashion, the Dubai Financial Service Authority or DFSA, is getting in on the action.  

DFSA just approved Circle’s stablecoin, USDC and EURC as authorised tokens under the new crypto regime. These stablecoins were two of the first coins to get approval under this regime. Due to this historic approval, Dubai International Financial Centre (DIFC) can use the power of these tokens in payment, service, and treasure management.  

The New Regulatory Clarity & Growing Crypto Market 

The approval of USDC and EURC marks a momentous chapter in the history of crypto in the Middle East. Not only that, but this approval would also bring a sense of regulatory clarity that was absent. Back in 2024, the country implemented some laws and regulatory frameworks to shape and support the nation’s emerging crypto community.  

Circle’s USDC might be among the first tokens to receive official approval. However, Circle’s competitor, Tether, is also in the conversation. In December 2024, Tether’s US-dollar-backed stablecoin, USDT, became a known digital asset in Abu Dhabi. Not only that, but Tether is also looking to integrate the token in UAE real estate with the help of a partnership named Reelly Tech, a UAE-based real estate platform. 

How Is This Approval Affecting USDC? 

Sources suggest that Circle has been actively minting USDC with a new zeal. Between Jan. 8 and  Feb. 10, the token’s market cap rose from $45.6 billion to a whopping $56.3 billion. Therefore, the token’s market cap jumped by 23.4% in just a month. At press time, the token’s market cap is $57.2 billion. Therefore, this approval can enhance USDC’s position in the upcoming month(s). As a result, making it is a lucrative investment.