Circle progresses toward MiCA compliance and announces the appointment of Coralie Billmann to lead operations in France

Summary: Circle, a global fintech firm, has received a conditional registration as a Digital Asset Service Provider (DASP) with the French Financial Markets Authority (AMF). In addition, Coralie Billmann has been chosen to lead Circle’s licensed operations in France. Circle aims to obtain an Electronic Money Institution license to fully comply with the regulatory standards set by the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the Markets in Crypto-Assets (MiCA) regime.

Introduction

Circle, the issuer of USDC and EURC, has achieved a conditional registration as a Digital Asset Service Provider (DASP) with the French Financial Markets Authority (AMF). This progress demonstrates Circle’s commitment to France and the EU. In addition to this milestone, Circle has appointed Coralie Billmann, a payments industry veteran, to lead its licensed operations in France, pending regulatory approval.

Main Points

• In order to commence operations in France, Circle needs to obtain an approval as a payment services provider (PSP) or register as an agent of a PSP. This requires obtaining an Electronic Money Institution license, for which Circle has applied.
• Coralie Billmann, an experienced leader in the payments industry, will play a crucial role in ensuring MiCA readiness and passportability for Circle’s products and services. She has previously held positions at 3S Money Club, JP Morgan, and PayPal.
• Circle’s objective is to bring its European operations under comprehensive EU oversight by obtaining a full DASP and Electronic Money Institution license. This will require compliance with the standards set by the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the forthcoming Markets in Crypto-Assets (MiCA) regime.
• The selection of France as Circle’s European regulatory base is due to the country’s favorable rules for responsible innovation in fintech and digital assets, as well as its strong entrepreneurial and technological ecosystem.

Conclusion

Circle’s conditional registration as a Digital Asset Service Provider in France marks an important step towards establishing its European regulatory platform. The appointment of Coralie Billmann to lead operations in France further strengthens Circle’s regulatory efforts and connections in the country. Circle’s objective is to obtain comprehensive EU oversight and compliance with the upcoming MiCA regime. The selection of France as its regulatory base reflects the country’s supportive environment for fintech and digital assets.