AMF Conditionally Approves Circle’s French Registration for Digital Asset Services

Circle, a prominent financial technology company known for its stablecoins USDC and EURC, has received conditional registration as a Digital Asset Service Provider (DASP) in France from the country’s financial regulator, the Autorité des Marchés Financiers (AMF). This move demonstrates Circle’s commitment to France and the European Union. In order to fully operate in France, Circle must meet certain conditions, including obtaining approval as a payment services provider (PSP) or registering as an agent of a PSP. This can be achieved by obtaining an Electronic Money Institution (EMI) license. As a DASP, Circle will be able to provide digital asset services to professional investors in France, such as buying, selling, and holding digital assets on behalf of clients, as well as facilitating the issuance and redemption of digital assets.

To further solidify its presence in France and establish a European regulatory platform, Circle has appointed Coralie Billmann as the Senior Vice President and Head of France. The company aims to obtain both a full DASP and Electronic Money Institution license, adhering to the strict standards set by the Autorité de Contrôle Prudentiel et de Résolution (ACPR). Circle’s decision to choose France as its European regulatory base is based on the country’s favorable regulations for fintech and digital assets, as well as its vibrant entrepreneurial, technological, banking, and financial services ecosystem.

By aligning its products and services with the upcoming Markets in Crypto-Assets (MiCA) regime and leveraging France’s dynamic ecosystem, Circle aims to strengthen its position as a leading global financial technology platform.