Circle secures conditional DASP registration in France
Fintech firm Circle today announced receipt of a conditional registration as a Digital Asset Service Provider (DASP) with the French Financial Markets Authority (AMF).
Circle has also announced the selection of payments industry veteran Coralie Billmann to spearhead its licensed operations in the country. The appointment of Coralie Billmann remains subject to regulatory approval.
In order to lift the conditions associated with its registration and to be able to start operations in France, Circle must obtain an approval as a payment services provider (PSP) or a registration as an agent of a PSP. This condition will be satisfied with the obtainment of an Electronic Money Institution license, for which Circle has applied.
Billmann is a respected payments industry leader and most recently contributed to launch the payments activity of 3S Money Club in Europe, a licensed Electronic Money Institution. Prior to that, she led High Growth Tech Sales expansion for JP Morgan in Paris and was EMEA Treasurer at PayPal for nine years. With a strong compliance and finance background, Billmann has held board directorships with 3S Money and PayPal. Billmann will play an instrumental role in enabling MiCA readiness and passportability for Circle’s products and services.
Circle’s objective is to have its European operations brought under comprehensive EU oversight with both a full DASP and Electronic Money Institution license (demande d’agrément en qualité d’établissement de monnaie électronique) under the rigorous standards set out by the Autorité de Contrôle Prudentiel et de Résolution (ACPR), as well as to bring its products and services into compliance with the forthcoming Markets in Crypto-Assets (MiCA) regime.
“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,” said Dante Disparte, Circle’s Chief Strategy Officer and Head of Global Policy.