Circle has secured conditional registration as a Digital Asset Service Provider (DASP) with the French Financial Markets Authority, AMF.
Jeremy Allaire, Co-founder and CEO at Circle, stated that the company is working towards establishing its European regulatory platform and aims to bring its products and services into compliance with the forthcoming Markets in Crypto-Assets (MiCA) regime. Circle plans to obtain approval as a payment services provider (PSP) or a registration as an agent of a PSP in order to begin operations in France.
Circle has hired Coralie Billmann, a veteran of the payments industry, to head its licensed operations in France.
Billmann has experience in the payments industry working for companies such as PayPal and 3S Money Club. According to Circle, her market expertise and leadership will be instrumental in furthering the company’s regulatory efforts and strengthening its connections in France.
Circle aims to obtain an Electronic Money Institution license to satisfy the condition for its registration.
In order to fully operate in France, Circle must obtain an Electronic Money Institution (EMI) license. The company has already applied for the license and expects to satisfy this condition in the future. Having an EMI license would allow Circle to bring its European operations under comprehensive EU oversight.
The selection of France as Circle’s European regulatory base is based on the country’s clear rules for responsible innovation in FinTech and digital assets.
Circle chose France as its European regulatory base due to the country’s favorable regulations for FinTech and digital assets. France has established clear rules for responsible innovation, creating an attractive environment for companies like Circle to operate in.
