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Circle secures Digital Asset Service Provider license in France

By Gloria Methri

January 03, 2024

  • blockchain payments
  • Circle
  • Crypto Assets

Circle, Digital Assets Service Provider, Bockchain Payments, Crypto Payments, FinTech, FranceCircle, a global financial technology firm and the issuer of USDC and EURC has secured conditional registration as a Digital Asset Service Provider (DASP) with the French Financial Markets Authority, AMF.

Circle has also announced the selection of payments industry veteran Coralie Billmann to spearhead its licensed operations in the country.

To lift the conditions associated with its registration and to be able to start operations in France, Circle must obtain approval as a payment services provider (PSP) or a registration as an agent of a PSP. This condition will be satisfied with the obtainment of an Electronic Money Institution license, for which Circle has applied.

Billmann is a respected payments industry leader and most recently contributed to the launch of the payments activity of 3S Money Club in Europe, a licensed Electronic Money Institution. Before that, she led High Growth Tech Sales expansion for JP Morgan in Paris and was EMEA Treasurer at PayPal for nine years.

With a strong compliance and finance background, Billmann has held board directorships with 3S Money and PayPal. Billmann will play an instrumental role in enabling MiCA readiness and passportability for Circle’s products and services.

“For over a decade, Circle has embraced a regulatory-first approach in advancing the use of blockchain technology and full-reserve payment stablecoins to empower businesses, promote financial inclusion and drive internet-speed global payments. The issuance of this conditional DASP registration in France marks a significant early milestone as we work towards establishing our European regulatory platform,” said Jeremy Allaire, Co-founder, CEO and Chairman at Circle. “With Coralie Billmann joining Circle, her deep market expertise and leadership will be instrumental in furthering our regulatory efforts and deepening our connections in France.”

Circle’s objective is to have its European operations brought under comprehensive EU oversight with both a full DASP and EMI license, as well as to bring its products and services into compliance with the forthcoming Markets in Crypto-Assets (MiCA) regime.

“The selection of France as our European regulatory base builds on the country’s clear rules for responsible innovation in FinTech and digital assets while leveraging France’s dynamic entrepreneurial, technological, banking and financial services ecosystem,” said Dante Disparte, Circle’s Chief Strategy Officer and Head of Global Policy.

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