Claim BonusBreaking: USDC Issuer Circle Selects France For Its European Expansion
Circle Internet Financial, the issuer of USD Coin (USDC) stablecoin, has applied for regulatory approval in France, selecting the country for its European expansion. The firm has filed applications for becoming a licensed Electronic Money Institution (EMI) and a registered Digital Asset Service Provider (DASP) in France.
Circle in a press release on March 21 announced it has filed applications to seek both an Electronic Money Institution license and Digital Asset Service Provider registration under the French Prudential Supervision and Resolution Authority and French Financial Markets Authority (AMF).
Circle seeks to become the only company under the DASP regulatory regime to receive full authorization from the AMF. Moreover, the company plans to expand its presence and engagement with regulators across the European market, with its operations in France.
Under the European Union’s MiCA regulation, all digital asset companies including stablecoins issuers are required to apply for the license in order to provide services from 2024. Moreover, it will enable Circle to start working on Euro Coin (EUROC) stablecoin and make it a leading e-money token under the new regime.
Jeremy Allaire, Co-Founder and CEO of Circle, said:
“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.”
Circle Follows Other Crypto Firms Expanding To France
Several crypto providers including Binance and Crypto.com had set their European operations in France due to crypto-friendly regulators and rising crypto adoption. Meanwhile, Circle is facing pressure from regulatory tightening and the banking crisis in the U.S.
Last week, Circle’s USDC depegged to the US dollar, falling to $0.87, after the firm revealed that it has $3.3 billion exposure to Silicon Valley Bank.
Also Read: Coinbase Sends Petition To US SEC, Explains Core Staking Services Are Not Securities
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- China Tightens Stablecoin Rules as Bessent Urges Congress to Pass CLARITY Act to Keep Crypto Lead
- Bitget Launches ‘Fan Club’ Initiative In Bid To Strengthen Community Amid Crypto Crash
- BlackRock Signals More Selling as $291M in BTC, ETH Hit Coinbase Amid $2.5B Crypto Options Expiry
- Is Pi Coin Set for Kraken Listing? U.S. Exchange Adds Pi Network to 2026 Roadmap
- Top 5 Reasons Why BTC Price Is Crashing Non-Stop Right Now
- Solana Price at Risk of Crashing Below $50 as Crypto Fear and Greed Index Plunges to 5
- Pi Network Price Prediction Ahead of PI KYC Validator Reward System Launch
- XRP Price Outlook As Peter Brandt Predicts BTC Price Might Crash to $42k
- Will Cardano Price Rise After CME ADA Futures Launch on Feb 9?
- Dogecoin, Shiba Inu, and Pepe Coin Price Prediction as Bitcoin Crashes Below $70K.
- BTC and XRP Price Prediction As Treasury Secretary Bessent Warns “US Won’t Bail Out Bitcoin”
