USDC Issuer Circle Applies for Licenses in France

Circle, a co-issuer of USDC, has applied for licenses as a digital asset service provider and electronic money institution in France, in line with their plans to expand in Europe.

The company is planning to launch their flagship product, the euro-denominated stablecoin EUROC, upon recognition under the Comprehensive Digital Asset Market Regulation (MiCA).

This comes after the French government tightened the rules for cryptocurrency companies in February 2023, requiring applicants to comply with internal control, cybersecurity, and conflict of interest management regulations.

Representatives of Circle and Coinbase, the other USDC co-issuer, recently blamed American banks for destabilising the cryptocurrency market.