USD Coin issuer Circle has secured conditional Digital Asset Service Provider registration from French authorities and appointed Coralie Billmann, a veteran from JP Morgan and PayPal, to lead its operations in the country.
Circle first announced its intention to establish a crypto-friendly presence in France as its European base last year, aiming to expand operations across the continent and promote its EUROC stablecoin.
With the DASP registration now obtained, Circle is still required to receive approval as a payment services provider or register as an agent of a PSP to commence operations in France. The company has applied for an Electronic Money Institution license to facilitate this process.
Billmann comes to Circle after playing a key role in launching the licensed EMI 3S Money Club. Previously, she led technology sales expansion for JP Morgan in Paris and served as EMEA Treasurer at PayPal.
Jeremy Allaire, CEO of Circle, stated: “The issuance of this conditional DASP registration in France marks a significant early milestone as we work towards establishing our European regulatory platform. With Coralie Billmann joining Circle, her deep market expertise and leadership will be instrumental in furthering our regulatory efforts and strengthening our connections in France.”