Stablecoin issuer Circle has received approval from the Dubai Financial Services Authority (DFSA) for its USDC and EURC stablecoins, making them the first to be recognized within the Dubai International Financial Centre (DIFC) economic-free zone. Financial institutions operating within the DIFC can now integrate the stablecoins into their services. Circle's approval followed a year-long engagement with the DIFC and compliance with regulatory requirements. Meanwhile, Arab Financial Services (AFS) has partnered with PayFi network provider Ternoa to introduce stablecoin-based point-of-sale (PoS) terminals in the Gulf countries. The project will be tested with merchants in the United Arab Emirates before expanding to other Gulf countries. The UAE is leading the region in digital transformation efforts and has introduced a digitization blueprint and funding for emerging technologies.



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