News Roundup — USDC and EURC Become First Stablecoins Recognized by Dubai International Financial Centre

Major news stories this week;

1. USDC and EURC Become First Stablecoins Recognized by Dubai International Financial Centre
2. Strategy Adds $2 Billion Worth of Bitcoin in Biggest 2025 Buy Yet
3. IMF Approves El Salvador’s $1.4B Loan But Imposes Bitcoin Restrictions
4. Bank Of America Prepares For Stablecoin Launch Amid Regulatory Developments
5. PayPal Plans to Introduce PYUSD Stablecoin to Over 20 Million Merchants

Story Summaries;

1. Circle's stablecoins, USDC and EURC, have been approved by the Dubai Financial Services Authority (DFSA) for use in the Dubai International Financial Centre (DIFC), marking a key regulatory milestone. This follows Circle's compliance with EU and Canadian regulations, reinforcing its global leadership in stablecoin adoption.
2. Strategy (formerly MicroStrategy) purchased 20,365 Bitcoin for nearly $2 billion, bringing its total holdings to 499,096 BTC, worth about $47 billion. This is the largest Bitcoin buy for 2025 so far, part of the company's ongoing strategy to acquire Bitcoin through convertible bond sales. Despite the market’s tepid reaction, Saylor's firm continues its aggressive Bitcoin accumulation, with plans to raise $42 billion in the next three years.
3. The IMF approved a $1.4 billion loan to El Salvador, contingent on scaling back its Bitcoin involvement. The deal aims to strengthen the country's public finances and governance while reducing Bitcoin-related activities. It will make Bitcoin acceptance voluntary and limit government transactions involving the cryptocurrency. This loan is part of a broader $3.5 billion financing package over 40 months, following El Salvador’s reversal on Bitcoin as legal tender.
4. Bank of America CEO Brian Moynihan announced plans to launch a dollar-backed stablecoin, contingent on U.S. regulatory approval. The stablecoin, similar to money market funds, would offer lower volatility than Bitcoin. BofA is poised to enter the market once clear regulations are established, following ongoing legislative discussions.
5. PayPal plans to integrate its PYUSD stablecoin into its services by 2025, aiming to streamline cross-border payments and reduce currency conversion fees for merchants. With a $1 billion market cap, PYUSD is already available on Ethereum and Solana, and PayPal seeks to expand its cross-blockchain use to enhance digital payments and challenge traditional banking.
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And that’s all for last week’s news! Wishing you a great week ahead!