Circle’s Conditional DASP Registration in France
Circle, a leading financial technology company, has secured a conditional registration as a Digital Asset Service Provider (DASP) in France from the country’s financial regulator, the Autorité des Marchés Financiers (AMF). This step aligns with Circle’s commitment to France and the European Union as it aims to establish a comprehensive EU regulatory platform.
AMF’s Conditional Registration
The AMF has granted Circle a conditional registration as a DASP, which means that Circle must meet certain conditions before it can fully operate in France. These conditions include obtaining approval as a payment services provider (PSP) or registering as an agent of a PSP, which can be achieved by obtaining an Electronic Money Institution (EMI) license.
The DASP allows Circle to provide digital asset services to professional investors in France, including buying, selling, and holding digital assets on behalf of clients, as well as facilitating the issuance and redemption of digital assets.
Coralie Billmann’s Role
Circle’s decision to appoint Coralie Billmann as Senior Vice President and Head of France is part of its broader strategy to establish a European regulatory platform. The company intends to obtain both a full DASP and Electronic Money Institution license under the rigorous standards set by the Autorité de Contrôle Prudentiel et de Résolution (ACPR).
“The selection of France as our European regulatory base builds on the country’s clear rules for responsible innovation in fintech and digital assets, while leveraging France’s dynamic entrepreneurial, technological, banking and financial services ecosystem,”
Dante Disparte, Circle’s Head of Global Policy
By aligning its products and services with the forthcoming Markets in Crypto-Assets (MiCA) regime and leveraging France’s dynamic entrepreneurial, technological, banking, and financial services ecosystem, Circle aims to strengthen its position as a leading global financial technology platform.
Hot Take
Circle’s conditional DASP registration in France marks a significant step in its commitment to the European market and strengthens its position as a global financial technology platform. With Coralie Billmann leading licensed operations in France and the aim to obtain an Electronic Money Institution license, Circle is poised to establish a comprehensive EU regulatory platform.
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