Circle's Entry into European Market

Circle, the US company behind the USDC stablecoin, has officially registered as a digital asset service provider (DASP) in France, marking its entry into the European market.

To commence operations, Circle seeks approval as a payment services provider (PSP) or registration as an agent of a PSP, with an application for an electronic money institution license already in progress.

Leadership Selection

Coralie Billmann, former growth officer at JP Morgan, has been selected to lead Circle's licensed operations in France, pending regulatory approval.

Jeremy Allaire, Co-founder, CEO and Chairman at Circle, said:

"With Coralie Billmann joining Circle, her deep market expertise and leadership will be instrumental in furthering our regulatory efforts and deepening our connections in France."

Billmann brings extensive experience from her roles at JP Morgan and PayPal, demonstrating a strategic move by Circle to strengthen its European presence.

Dante Disparte, Circle’s Chief Strategy Officer and Head of Global Policy, emphasised France's suitability as the European regulatory base:

Dante Disparte, Circle's Chief Strategy Officer and Head of Global Policy, said:

"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,"

Circle Introduces EUR Coin

In May, Circle introduced EUR coin (EURC), a stablecoin denominated in euros, enhancing customer access and expediting euro transactions on the blockchain.

Compatible with various blockchain platforms, including Avalanche, Ethereum, Solana, and Stellar, EURC ensures flexibility for developers and traders.

The stablecoin maintains a 1:1 reserve in euro bank accounts, ensuring stability, and follows the proven USDC model in terms of convertibility guarantees.