Circle Secures Conditional Registration in France
Stablecoin issuer Circle has achieved a significant milestone by securing conditional registration as a Digital Asset Service Provider (DASP) from the French Financial Markets Authority (AMF). This accomplishment is crucial for establishing Circle’s European regulatory platform.
New Operations Leader
Circle has appointed Coralie Billmann as the leader of its licensed operations in France. Billmann, a seasoned professional in the payments industry, will leverage her market expertise and leadership to fortify regulatory efforts and bolster connections in the country.
Regulatory Approval Needed
However, Billmann’s appointment is contingent on regulatory approval. Circle is looking to secure approval as a payment services provider (PSP) or registration as a PSP agent. To meet the prerequisites, Circle has submitted an application for an Electronic Money Institution license.
Circle’s First Patent for Parallel Block Processing
In another achievement, Circle has secured its inaugural patent for Parallel Block Processing in Blockchains. This innovative technique, developed by Marcus Boorstin, Director of Engineering at Circle, allows for the simultaneous processing of multiple pieces of information while maintaining block validation.
Application on Solana Blockchain
Circle initially applied Parallel Block Processing to manage transactions for USDC on Solana, a blockchain platform known for high throughput. The technique was particularly important for products like Circle Mint, which require efficient on-chain information processing.
Milestone for Innovation
This patent is a significant milestone for Circle and recognizes their dedication to innovation. Jeff Tang, Circle’s Chief Intellectual Property Counsel, emphasizes the importance of patents in safeguarding Circle’s open architecture and ensuring operational flexibility in the blockchain industry.
Hot Take: Circle’s Regulatory Advancements and Technological Innovations
Circle’s conditional registration in France and the appointment of Coralie Billmann highlight the company’s commitment to global regulatory standards. By securing regulatory approval and expanding its licensed operations, Circle aims to advance blockchain technology and promote financial inclusion. Additionally, Circle’s first patent for Parallel Block Processing demonstrates their dedication to technological innovation in the blockchain space. These milestones position Circle as a key player in the industry, with exciting prospects for further advancements in the future.
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