Fintech company Circle announced today that it has received a conditional registration as a Digital Asset Service Provider (DASP) with the French Financial Markets Authority (AMF).
Circle also announced the selection of payments industry veteran Coralie Billmann to lead its licensed operations in the country. Coralie Billmann’s appointment is still subject to regulatory approval.
In order to remove the conditions associated with its registration and to be able to start its activities in France, Circle must obtain approval as a payment service provider (PSP) or registration as an agent of a PSP. This condition will be satisfied by obtaining an Electronic Money Institution license, for which Circle has applied.
Billmann is a respected leader in the payments industry and most recently helped launch the payments business of 3S Money Club in Europe, a licensed Electronic Money Institution. Prior to that, he led high growth technology sales expansion for JP Morgan in Paris and was Head of EMEA Treasurer at PayPal for nine years. With a strong compliance and finance background, Billmann has held management positions with 3S Money and PayPal. Billmann will play a key role in enabling readiness and passporting capabilities for Circle’s products and services.
Circle aims to bring its European operations under full EU supervision with a full DASP and Electronic Money Foundation license to the strict standards set by the Prudential Control Authority and de Resolution (ACPR), as well as to bring the products and its services in compliance with the upcoming Markets in Crypto-Assets (MiCA) regime.
“Choosing France as our European regulatory base is based on the country’s clear rules for responsible innovation in fintech and digital assets, while leveraging France’s dynamic business, technology, banking and financial ecosystem,” said Dante Disparte, Chief Strategy Officer and Head of Circle. of World Politics.