{"id":46990,"date":"2023-03-21T17:45:00","date_gmt":"2023-03-21T21:45:00","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=46990"},"modified":"2023-03-21T17:46:27","modified_gmt":"2023-03-21T21:46:27","slug":"usdc-issuer-circle-chooses-france-for-its-european-expansion","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/usdc-issuer-circle-chooses-france-for-its-european-expansion\/","title":{"rendered":"USDC Issuer Circle Chooses France For Its European Expansion"},"content":{"rendered":"\n

Circle has applied to become a licensed Electronic Money Institution and a registered Digital Asset Service Provider<\/a> (DASP) in France.<\/p>\n\n\n\n

\"USDC
USDC Issuer Circle Chooses France For Its European Expansion<\/figcaption><\/figure>\n\n\n\n

The creator of the USD Coin (USDC) stablecoin, Circle Internet Finance, has asked for regulatory approval in France as part of its European growth. The company has submitted applications to the French government to become a registered Digital Asset Service Provider<\/a> (DASP) and an authorized Electronic Money Institution (EMI).<\/p>\n\n\n\n

In a news statement on March 21, Circle stated that it had submitted applications to the French Prudential Supervision and Resolution Authority and the French Financial Markets Authority for registration as a Digital Asset Service Provider and an Electronic Money Institution\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, respectively.<\/p>\n\n\n\n

Circle aims to become the sole business covered by the DASP regulatory framework to gain full AMF license. Additionally, the business intends to use its operations in France to increase its visibility and interaction with authorities throughout the European market.<\/p>\n\n\n\n

All digital asset enterprises, including stablecoin issuers, are obliged to apply for the license in order to perform services starting in 2024 under the MiCA regulation of the European Union. Also, it will allow Circle to begin developing the stablecoin Euro Coin (EUROC) and turn it into a key e-money token under the new system.<\/p>\n\n\n\n

\n

\u201cWe are excited to kick our European growth strategy into high-gear with this application. France\u2019s comprehensive efforts towards innovation-forward crypto regulation are commendable and closely align with Circle\u2019s vision for the future of the digital payments sector.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Circle Expands To France After Other Crypto Companies<\/h2>\n\n\n\n

Because of its crypto-friendly authorities and growing cryptocurrency usage, France has become the home of several cryptocurrency service providers, including Binance and Crypto.com.<\/p>\n\n\n\n

In the meantime, the US banking crisis and regulatory tightening are putting pressure on Circle. After the company disclosed that it has a $3.3 billion exposure to Silicon Valley Bank<\/a>, Circle's USDC last week depegged from the US dollar and dropped to $0.87.<\/p>\n","protected":false},"excerpt":{"rendered":"

Circle has applied to become a licensed Electronic Money Institution and a registered Digital Asset Service Provider (DASP) in France. The creator of the USD Coin (USDC) stablecoin, Circle Internet Finance, has asked for regulatory approval in France as part of its European growth. The company has submitted applications to the French government to become […]<\/p>\n","protected":false},"author":43,"featured_media":46992,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1658,1763,13838],"class_list":["post-46990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-circle","tag-france","tag-usdc-issuer"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/03\/croc_1679427588312.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/46990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=46990"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/46990\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/46992"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=46990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=46990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=46990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}