Stablecoin issuer Circle has applied for a French crypto asset license as part of a wider growth strategy for Europe.
The Boston-based firm filed separate applications to be a registered digital asset service provider and a licensed electronic money institution, Circle said in a statement. A successful registration will mean Circle can offer its products to customers in France, and "onshore" its euro-backed stablecoin EUROC, the statement said.
France recently tightened its crypto licensing rules ahead of the introduction next year of a European Union-wide digital assets framework called Markets in Crypto-Assets. Circle already holds licenses from various U.S. states and in Singapore and is best known for its dollar-backed USDC stablecoin.
(By Benjamin Robertson)
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