According to online reports, the Dubai Financial Services Authority (DFSA) officially approved Circle's stablecoins, USD Coin (USDC) and EURC, as recognized tokens, becoming the first batch of stablecoins approved under the regulatory system. The new regulations will allow companies in the Dubai International Financial Center (DIFC) to use these two stablecoins in a number of digital asset applications such as payments and fund management. Since its establishment in 2004, DIFC has attracted nearly 7,000 active companies and strictly allows only recognized crypto tokens to operate.