Global: Circle Receives Conditional Regulatory Approval in France

Circle, the issuer of USD Coin, has achieved conditional registration as a Digital Asset Service Provider (DASP) from French regulatory authorities. This move is part of Circle’s strategic plan to establish France as its European hub, aiming to expand its presence on the continent and promote its EUROC stablecoin.

While securing the DASP registration is a notable achievement, Circle must still obtain approval as a payment services provider (PSP) or register as an agent of a PSP to commence operations in France. To achieve this, the company has applied for an Electronic Money Institution license.

To lead its operations in France, Circle has appointed Coralie Billmann, a seasoned professional with experience at JP Morgan and PayPal. Billmann, who played a key role in launching the licensed EMI 3S Money Club, previously spearheaded high-growth tech sales expansion at JP Morgan in Paris and served as EMEA Treasurer at PayPal.

Jeremy Allaire, CEO of Circle, commented on the development, stating, “The issuance of this conditional DASP registration in France marks a significant early milestone as we work towards establishing our European regulatory platform. 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.”