Circle Advances in French Market with DASP Registration and New Leadership Appointment
PARIS – Circle, a leading global fintech firm and issuer of digital currencies like USDC and EURC, has achieved a significant milestone in its expansion in Europe. The French Financial Markets Authority (Autorité des Marchés Financiers, AMF) has conditionally registered Circle as a Digital Asset Service Provider (DASP, also known as 'Prestataire de Service sur Actifs Numériques' or PSAN). This development is a critical step in Circle's efforts to comply with European regulations and broaden its reach in the EU market.
To commence operations in France, Circle is required to secure an Electronic Money Institution license, which would lift the conditions of its DASP registration. This process involves becoming an approved payment services provider (PSP) or registering as an agent of a PSP.
Coralie Billmann's Appointment: A Strategic Move
In line with its commitment to the French and EU markets, Circle has appointed Coralie Billmann to lead its French operations. Billmann's appointment is pending regulatory approval. With a rich background in the payments industry, including roles in 3S Money Club and JP Morgan, and a significant tenure as EMEA Treasurer at PayPal, Billmann brings valuable experience to Circle. Her expertise in compliance and finance and her previous leadership roles make her a formidable choice to spearhead Circle’s licensing operations and ensure readiness for the EU's Markets in Crypto-Assets (MiCA) regulations.
Circle's Regulatory-First Approach and European Goals
Jeremy Allaire, Co-founder, CEO, and Chairman at Circle, emphasizes the company's long-standing regulatory-first approach. This strategy has been fundamental in leveraging blockchain technology for stablecoin-based business solutions, financial inclusion, and global internet-speed payments. The conditional DASP registration in France is an early yet vital step in establishing Circle’s regulatory platform in Europe.
Circle aims to bring its European operations under the comprehensive oversight of the EU, complying with both DASP and Electronic Money Institution licensing requirements. The firm is working towards aligning its services with the stringent standards of the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and preparing for the MiCA regime.
France: A Strategic Choice for Circle’s Expansion
Dante Disparte, Circle’s Chief Strategy Officer and Head of Global Policy, noted that selecting France as their European base aligns with the country's favorable fintech and digital assets innovation climate. France’s vibrant entrepreneurial and financial services ecosystem offers a strategic advantage for Circle’s expansion.
As Circle navigates through the regulatory landscape, it acknowledges the support of De Gaulle Fleurance & Associés in the application process.
About Circle
Circle is a global fintech company that empowers businesses to leverage digital currencies and public blockchains for various financial applications. Known for issuing USDC and EURC, Circle offers an open, programmable platform and APIs that facilitate international payments, Web3 app development, and treasury management.
