Circle is eyeing a PSAN to implement EUROC in Europe

·21/03/2023
·Laeti Marison (SatoshiBelle)

American fintech Circle has announced that it has filed for registration as a digital asset service provider (DASP) as well as a license to issue electronic money.

As a reminder, Circle is the issuer of USDC and EUROC stablecoins with a capitalization of $35 billion. It wants to expand its operations in Europe with France in its sights.

Issued by the Autorité des marchés financiers (AMF), the PSAN registration is essential for any player wishing to offer in France custody services for digital assets, the purchase and sale of digital assets against legal tender or crypto against crypto and operate a trading platform for digital assets.

According to Jeremy Allaire’s statements, Circle has applied for an enhanced PSAN registration. This registration was definitively voted by the National Assembly on February 28 and aims to impose additional requirements particularly in terms of cybersecurity compared to the PSAN registration that appeared with the Pact law in 2018. It will come into force from next July for new entrants to the market.

For the CEO, France’s efforts to put in place “innovative regulation” for cryptocurrency “aligns closely with Circle’s vision.”

Coinbase, Circle’s USDC partner, is also currently coveting a digital asset provider registration in France.

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Article written by: Laeti Marison (SatoshiBelle)

Laeti Marison, also known as SatoshiBelle, is a multifaceted professional with a passion for community management, content creation, and digital marketing. With a diverse background in various roles, Laeti has consistently demonstrated her expertise and dedication in the field. Recognizing her potential, Laeti then took on the responsibilities of a Project and Community Manager at Magna Numeris and Cartam from November 2018 to March 2021. In this role, she showcased her ability to successfully lead projects and foster strong relationships within the community. Currently, Laeti serves as an SEO content writer, Digital Marketing Manager, and co-founder at Trendingcrypto.news magazine, starting from February 2022 till now. Through her expertise in digital marketing and her passion for the crypto industry, she has contributed to the success of the magazine, ensuring its content remains relevant, engaging, and informative.