- Circle recently announced that it has obtained conditional approval from the French Financial Markets Authority (AMF).
- This approval is a crucial step in the process of registering Circle as a virtual asset service provider (DASP) in France.
Circle aims to establish a regulated platform in Europe, and obtaining the DASP approval is a significant milestone in their progress.
In addition to the DASP permit, Circle also needs to register as a PSP (Payment Service Provider) agent, which requires obtaining an electronic money institution license.
“The conditional approval as a DASP in France marks an important milestone in our work to create a regulated platform in Europe,” stated Circle in a press release.
Circle’s ultimate goal is to have all its operations in Europe supervised under a full DASP and PSP operator license.
“The decision to choose France is based on its clear regulatory frameworks that promote responsible innovation in fintech and digital assets. It also benefits from a dynamic ecosystem of entrepreneurial, technology, banking, and financial services,” explained Circle’s Chief Strategy Officer, Dante Disparte.
Coralie Billmann, who previously worked at JPMorgan Chase and PayPal, will lead Circle’s division in France.
It’s worth mentioning that Messari’s 2024 forecast includes both Circle and Disparte. According to Ryan Selkis, the CEO of Circle, the company is a strong contender for an IPO in the United States.
In September 2023, Circle introduced a euro-based stablecoin, which was subsequently launched on the Solana network.