Circle, the US company behind the USDC stablecoin, has expanded its operations into the European market by registering as a digital asset service provider (DASP) in France. To begin its operations in France, Circle needs to obtain approval as a payment services provider (PSP) or register as an agent of a PSP. The company has applied for an electronic money institution license, which is required by European regulations.
Circle has selected Coralie Billmann, a former growth officer at JP Morgan, to lead its licensed operations in France, pending regulatory approval. Billmann has a strong background in high-growth tech sales expansion and has also served as EMEA treasurer at PayPal for nine years.
Circle’s Chief Strategy Officer and Head of Global Policy, Dante Disparte, explained that the choice of France as their European regulatory base is due to the country’s clear rules for responsible innovation in fintech and digital assets, as well as its dynamic entrepreneurial, technological, banking, and financial services ecosystem.
In May, Circle launched EUR coin (EURC), a stablecoin denominated in euros. EURC facilitates euro transactions on the blockchain and is compatible with various blockchain platforms such as Avalanche, Ethereum, Solana, and Stellar. It maintains its peg through a 1:1 reserve in euro bank accounts, and Circle guarantees its convertibility, following the USDC model.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇫🇷 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Coralie Billmann, Dante Disparte |
| Companies | PayPal, Stellar, JP Morgan, Circle, Ethereum, Solana, Avalanche |
| Currencies | USDC, Euro |
| Securities | None |
