And one more! After Binance and Crypto.com, the American company Circle will also set up its European headquarters in Paris.
The company that issues USDC (dollar) and EUROC (euro) stablecoins, which have a value in circulation of more than $36 billion, announced on Tuesday that it had filed two applications for licenses on French soil. This strategy should make France "a hub for the company's operations," says the company headed by Jeremy Allaire.
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The first file is an application for an electronic money establishment license. Circle intends to comply with the European MiCA regulation which will require all issuers of stablecoins distributed on European soil to have this status from 2024 (mandatory in 2026).
The second is an application to become a digital asset service provider (DASP). This will allow it to sell its stablecoins directly to individuals and companies, and even to offer crypto services to the public (e.g., passbooks with returns).
Circle emphasizes that this request is for an accreditation and not a simple registration. To date, no company has obtained the much more restrictive and protective accreditation for consumers, which will become a standard in Europe as of 2024 (2026 for those already registered). About sixty companies have the PSAN registration.
"It will take between 8 and 12 months for the e-money license, about 9 months for the PSAN approval," estimates William O'Rorke, a partner in the law firm ORWL, which specializes in disruptive technology law. "Circle certainly anticipates wide delays because the company will potentially be the first company to obtain this status and thus wipe the slate clean," he huffs.
"France's overall efforts toward innovation-driven cryptocurrency regulation are commendable and closely align with Circle's vision for the future of the digital payments industry," says Jeremy Allaire.

The American also hopes that his company's growth plans will "strengthen France's position as a global center for innovation.
A statement that did not escape the French government, which has been a driving force in the case.
"The choice of Circle is further proof that the French government's policy measures to foster the growth of an innovative crypto-asset sector, designed to be robust and secure, are fully bearing fruit," said Minister Delegate for Digital Affairs Jean-Noël Barrot. "We are more convinced than ever that France has all the assets to become a global reference in innovation and the digital economy based on blockchain."
The list of crypto giants making Paris their European headquarters could continue to grow in the coming weeks. According to our information, the American platform Coinbase is also considering setting up shop in the French capital.