Circle Seeks Regulatory Approvals in France, Eyes European Expansion

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Circle, Boston-based digital fintech firm and the issuer of USDC and EUROC, announced today that it was set to grow its presence in Europe, and was seeking regulatory approvals in France to become both a licensed Electronic Money Institution and a registered Digital Asset Service Provider (DASP).

According to the official press release, France would become a key hub for Circle's operations in the continent. Registration with the AMF will allow the firm to deliver a suite of products and services to customers in France in full compliance with local regulations.

"We are excited to kick our European growth strategy into high-gear with this application. France's comprehensive efforts towards innovation-forward crypto regulation are commendable and closely align with Circle's vision for the future of the digital payments sector," said Jeremy Allaire, Co-Founder and CEO of Circle. "Further, we aspire to become one of the first companies to achieve full-authorisation under the reinforced PSAN licensing regime, and hope that our growth plans for the country will strengthen its position as a global hub for innovation."

Currently, Circle is regulated as a licensed money transmitter across 48 jurisdictions in the US, and it has secured in-principle approval as a Major Payments Institution License holder in Singapore.

In December, Fazzaco reported that Circle was no longer set to list publicly via a merger with Concord Acquisition Corp​, in a decision that has been approved by the directors of both entities.